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India’s strategic investment in Iran

  • India is proposing to set up a urea plant at Chabahar port of Iran with an investment of 1 lakh crores .
  • As sanctions against Iran are easing by US and countries India has taken up this investment proposal and negotiating with Iran government.
  • Iran, in principle, has agreed to supply natural gas at $2.95 per mmBtu rate but India is negotiating to get gas at $1.5 per mmBtu rate.
  • India is importing natural gas at more than double the rate what Iran is offering and imports from Qatar in long term costs four times.
  • India is already committed to invest 85000 crores for the development south east coasts of Iran which in turn provide a sea-land route to Afghanistan bypassing Pakistan
  • If the plant is successfully implemented India can save Rs. 80000 crores of subsidy on urea by avoiding imports of fertilizers to the tune of 8 to 9 million tons and prices of urea drastically reduced by 50%.
  • The plant will be established in a special economic zone with good offers from Iran.

Source: ET

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