Published on April 19, 2014
Iran may supply gas at $3 per mmbtu to India. Iran will likely supply gas to a urea and ammonia plant to be established by India in the Islamic Republic. Gujarat Narmada Vally Fertilisers & Chemicals (GNFC) and Rashtriya Chemicals and Fertilisers (RCF) are developing this project and will also include an Iranian company.
The project includes establishing a petrochemicals hub at Chabahar using natural gas as feedstock. The project is estimated to be worth Rs 7000 crore. Iran will most probably supply gas at a fixed rate ($3/mmbtu) and India will increase the quantity of soil nutrients produced at the plant.
