India is planning to invest a sum of Rs. 2 lakh crore in the Chabahar port ‘Special Economic Zone’ in Iran. This was disclosed by Transport and Shipping Minister of India, Nitin Gadkari.
However, this investment hinges upon the price of natural gas which Iran proposes to supply to India. Iran is quoting $2.95 per mmBtu, while India wants it at $1.5.
This move is being made to make Urea more affordable, whose principle raw material is natural gas.
