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India not satisfied with Iranian offer to establish petrochemical unit in Chabahar

Business Materials 9 November 2014 16:11 (UTC +04:00)

Baku, Azerbaijan, Nov.9

By Fatih Karimov - Trend: India is not satisfied with Iranian offer to establish a petrochemical unit in Iran's Chabahar port.

Mohammad-Hossein Peivandi, Deputy Director of the National Iranian Petrochemical Industries Company, said Iran has offered natural gas at $2.85 per million BTU to India, but they want gas at much lower price, Iran's Fars news agency reported on November 9.

India wanted gas at 2 or 3 cents per cubic meter, he noted.

In June, Peivandi said Indian companies are keen to invest in Iran's petrochemical hubs in the country's south-eastern port cities of Iranshahr and Chabahar.

He that that due to the nearness of Iranshahr and Chabahar to the Indian and Chinese markets, transportation costs will decrease notably, Iran's IRNA news agency reported.

Iran's Chabahar Port, located 72 kilometers (44 miles) west of Pakistan's Gwadar port, holds immense strategic and economic significance for India.

The port is already connected to the city of Zaranj in Afghanistan's southwestern province of Nimruz and can serve as India's entry point to Afghanistan, Central Asia and beyond.

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