*NEW DELHI- Tehran and New Delhi on Saturday signed agreements including an$85 million USD accord for the development of Chabahar Port insouth-eastern Iran.*

According to the agreement, India will invest the money to build thecapacity of Chabahar port.

The lease agreement which gives operational control to India of ShahidBeheshti port – phase one of the Chabahar port – was signed in the presenceof Iranian President Hassan Rouhani and Indian Prime Minister Narendra Modiin New Delhi.

Addressing a joint press conference after signing the agreements, Modi saidthe two countries want to expand bilateral ties and cooperation in economicdevelopment.

“We will support the construction of the Chabahar-Zahedan rail link so thatChabahar gateway’s potential could be fully utilized,” Modi said, as quotedby Reuters. “We want to expand connectivity, cooperation in the energysector and the centuries-old bilateral relationship.”

Other agreements signed by the two leaders include a double taxationavoidance treaty, extradition, and cooperation in the farming sector.

Rouhani, who is on a three-day visit to India, will also discuss the issueof oil with Indian officials. India is the second-biggest importer ofIranian crude oil.