Iran Economy NewsIran may supply gas at $3/mmbtu to India's proposed...

Iran may supply gas at $3/mmbtu to India’s proposed urea plant

-

Business Standard:  Iran is likely to supply gas at USD 3 per mmbtu for India’s proposed urea and ammonia plant to be set up in the Persian Gulf nation. Rashtriya Chemicals and Fertilisers (RCF) and Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) have been jointly working on this project.

 

Business Standard

New Delhi – Iran is likely to supply gas at USD 3 per mmbtu for India’s proposed urea and ammonia plant to be set up in the Persian Gulf nation.

Rashtriya Chemicals and Fertilisers (RCF) and Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) have been jointly working on this project. The project will also include an Iranian firm.

The project is proposed to set up at a petrochemicals hub at Chahbahar, Iran, using natural gas as feedstock with an estimated investment of about Rs 7,000 crore.

“Talks are at an advanced stage and there have been indications from the Iranian authorities for supplying gas at USD 3 per mmbtu,” sources said.

As per the proposal, the Iraninan government will assure supply of gas at fixed rate and India will lift the total quantity of soil nutrients produced at the proposed plant.

Work on the project has expedite following the lifting of sanctions on Iran by the US in November last year.

Iran had struck a deal with world powers to curb its nuclear programme in return for some sanctions relief and no new nuclear-related sanctions on the country for 6 months.

The Fertiliser Ministry had also received a letter from the Iranian embassy inviting a delegation from India to discuss gas prices and supply for the proposed urea plant there, sources added.

However, the Indian government is already in talks with Iran to provide financial assistance and develop Chabahar port.

Latest news

What Is Happening in Iran?

Following the brutal killing of Masha Amini, the Iranian people have once again united to fight and defeat the...

Iran Regime’s Ministry of Culture’s Decision To Eliminate Children’s Intellectual Centers

With the so-called ‘Cultural Revolution’ which took place between 1980 and 1983, the Iranian regime tried to purge the...

Water Shortage Crisis and the Destruction of Iran’s Water Resources

Iran is currently suffering from a number of dangerous natural disasters. One of the most worrying is the drying...

Economic Freedom Under the Rule of the Mullahs in Iran

The Fraser institute published its annual report of the index of economic freedom on September 8, which measured the...

Iran’s Regime Continues Its Internet Restriction Project

This is part of the outlook of a document by the Iranian regime’s Supreme Council of Cyberspace, which has...

Iran’s Human Development Index Dropped Sharply

One of the most common questions asked in primary schools by teachers all over the world is, “wealth or...

Must read

Iraqi security forces stop drug smugglers from Iran

Iran Focus: Baghdad, Mar. 04 – Border-police in the...

Iran’s hard-line judge pays fine for murder of young man

Iran Focus: Tehran, Oct. 23 – A court ruling...

You might also likeRELATED
Recommended to you