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India approved a $150 million project to develop the strategic Iranian port of Chabahar, which includes a transit route to Afghanistan bypassing neighboring Pakistan, a government statement said Wednesday.The port's location will also help it compete with China, investing heavily in the Pakistani port of Gwadar, to boost business interests in the region.Afghanistan's chief executive Abdullah Abdullah, who was in New Delhi earlier this month, had hoped that the Chabahar port proposal would be approved soon.
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