India Ports Global Ltd (IPGL) was primarily formed to participate in Chabahar Port development project with the objective of providing an alternative and reliable access route to land locked Afghanistan.
With above objective in mind, a SPV comprising a consortium of Jawaharlal Nehru Port and Deendayal Port Trust (Erstwhile Deen Dayal Port Trust) was incorporated on 22nd January 2015.Thereafter Company becomes wholly owned Subsidiary of Sagarmala Development Company Limited
A Memorandum of Understanding (MoU) for development of Chabahar Port by India was signed on 06th May 2015. Thereafter a contract was executed on 23rd May, 2016 at Tehran which was signed between Aria Banader Iranian Port & Marine Services Company (ABI) of Iran and India Ports Global Ltd. (IPGL) of India for equipping and operating two terminals at first development phase of Shahid Beheshti port of Chabahar.
Since there were challenges in activation of the above 10 year Contract, the foundation of a Short Lease Contract was laid in February 2018. Resultantly a formal Short Lease Contract between the two sides was signed on 6th May 2018. For implementation of the same, an Iranian SPV, India Ports Global Chabahar Free Zone (IPGCFZ) was incorporated in Iran 0n 3rd June 2018.
Presently Company is a wholly owned subsidiary of Sagarmala Development Company Ltd. (SDCL) since November 2018. SDCL is a CPSE and therefore IPGL being subsidiary of SDCL has also become a CPSE. The Cabinet has given exemption to IPGL from compliance of various DPE guidelines for 5 years, except for statutory ones. This is to allow IPGL to continue to function as a Board managed company, for smooth execution of the project.