Urea Plant In Iran

India will invest billions of dollars in setting up industries - ranging from aluminum smelter to urea plants - in Iran's Chabahar free trade zone after it signed a pact to operate a strategic port on the Persian Gulf nation's southern coast.

Iran has offered to supply natural gas at $2.95 for a urea plant that India will set up at Chabahar port on the Persian Gulf, but New Delhi wants rates to be lowered.

To cut down on a huge Rs 80,000-crore subsidy on urea, India plans to set up a urea plant at the strategic Chabahar port complex in Iran, Union Road Transport and Highways Minister Nitin Gadkari said on Wednesday.

Indian firms have already tied up with companies in Oman to produce urea.

India will invest billions of dollars in setting up industries - ranging from aluminum smelter to urea plants - in Iran's Chabahar free trade zone after it signed a pact to operate a strategic port on the Persian Gulf nation's southern coast.

Iran has offered to supply natural gas at $2.95 for a urea plant that India will set up at Chabahar port on the Persian Gulf, but New Delhi wants rates to be lowered.

To cut down on a huge Rs 80,000-crore subsidy on urea, India plans to set up a urea plant at the strategic Chabahar port complex in Iran, Union Road Transport and Highways Minister Nitin Gadkari said on Wednesday.

Indian firms have already tied up with companies in Oman to produce urea.