Under the terms of the agreement, India Ports Global will renovate a 640-meter container handling facility and rebuild a 600-meter berth in the port.  India also agreed to provide a $400 million line of credit for the import of steel for the construction of a rail link between Chabahar and Zahedan, while India`s IRCON and the Iranian Construction, Transport and Infrastructure Development Corporation signed a memorandum of understanding on the construction and financing of the Chabahar to Zahedan railway line for $1.6 billion. of dollars.  “The agreements will achieve the peaceful development and shared prosperity of both participants and promote cooperation,” the minister said. India, Iran and Afghanistan have also signed an agreement to simplify transit procedures between the three countries. .