India to invest heavily in Iran

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NEW DELHI: Iran has offered to supply natural gas at $2.95 per million British thermal unit for a plant that India will set up at Chabahar port on the Persian Gulf, but New Delhi wants rates to be lowered.The total investment in the projects will be around Rs 1, 00,000 core, road transport, highways and shipping minister Nitin Gadkari said on Wednesday.

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 the Chabahar port, besides developing a gas discovery ONGC had made.