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INDIA wants Iran to lower the price of natural gas to $ 1.5 per million British thermal units for the urea plant that its plans to set up at Chabahar port in the Middle East country while Tehran has offered a price of $ 2.95. With the US and other western powers easing sanctions against Iran, India has been in talks with Tehran to set up a gas- based urea manufacturing plant at Chabahar, besides developing a gas discovery ONGC had made.

The total investment in the projects will be around ` 1,00,000 crore, Union Nitin Gadkari said here on Wednesday. Asked about the development of the port, he said, "Various ministries will give their report by September 28 based on which a final decision will be taken.

India is ready to invest more than ` 1 lakh crore, but that depends on negotiations with Iran.

On talks on supply of natural gas, Gadkari said, "Iran is offering gas to India at $ 2.95 per million British thermal unit to set up urea plant at the Chabahar port. India is negotiating the gas price and has demanded it at $ 1.5 per mmBtu rate."

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Publication:Mail Today (New Delhi, India)
Date:Sep 24, 2015
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