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News > India to make 50 billion rupees investment in Chabahar

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India to make 50 billion rupees investment in Chabahar

India to make 50 billion rupees investment in Chabahar

India asked Iran to produce chemical fertilizer and signed a long term gas contract with the company.

Indian government had introduced three Indian companies like, RCF, GNFC and GSFC for construction of 1.3 million tones agricultural fertilizer plant.

PTI said that the plan will have an Iranian partner to build Iran's agricultural fertilizer production plant.

The plant will use natural gas to produce chemical fertilizer.

The Indian government officials want a long term gas purchase contract with suitable price.

The two countries have been discussing the issue since 2013 for construction of an agricultural fertilizer production plant, but talks were halted on gas price.

Following Iran's expressing interest for investment of Indian companies in Chabahar, the India's government has resumed the plan again.

Iran's Ambassador to India Gholamreza Ansari exchanged views with India's Agriculture Minister Ananth Kumar on bilateral cooperation to construct the agricultural fertilizer plant.

The proposed plan to be established in Iran is upon policy of OMIFCO ( Oman-India Agriculture Fertilizer Company).

In Oman, Indian companies have joint investment with a local side to make fertilizer plant.

50 percent of total share of Omani company belongs to Oman Oil Company and 25 percent of the share belongs to each of the two Indian companies.

Indian government had signed a long term contract with the Omani company to purchase its agricultural fertilizer.

Production expense of the merchandise in Oman is lower than India.

India needs around 30 million tones of agricultural fertilizer annually, which 22 million tones would be produced domestically and the rest of it will be imported from abroad.


08:21 - 21/01/2015    /    Number : 323764    /    Show Count : 498


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