Tehran, Iran, May 17
By Mehdi Sepahvand - Trend:
Indian Prime Minister Narendra Modi will visit Iran on May 22, Iranian Press Secretary Parviz Esmaili said.
Modi, who heads a delegation of political, economic and cultural representatives, will stay in Iran for two days, said Esmaili, IRNA news agency reported May 17.
The official said Iran and India are planning to sign several MoUs during the visit.
The documents range in field from investment to trade, transport, port development, culture, science and academic cooperation, he noted.
As Modi plans his trip, energy cooperation prospects are in focus. The first of Iranian energy projects now available to India is the Farzad-B oil field.
India is also interested in running projects in Chabahar Port in southeastern Iran. Recently, New Delhi proposed investing $20 billion in petrochemical projects, including LNG plants, in the area.
There is also the Binaloud oil field. A consortium led by India's ONGC Videsh in 2008 discovered the field off the Farsi offshore block. The consortium is now keen to seal a contract for developing the oil field.
Furthermore, India is currently the main consumer of agricultural fertilizers and Iran is the main producer of the products. India is looking forward to investing $20 billion in fertilizer plants in Chabahar through a credit line.