Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Modi to discuss Chabahar investment proposals: Gadkari.


Date: 19-10-2015
Subject: Modi to discuss Chabahar investment proposals: Gadkari
NEW DELHI: Prime Minister Narendra Modi is expected to hold a meeting this month to discuss with different ministries the proposed investment proposals worth Rs 2 lakh crore at crucial Chabahar port SEZ in Iran, transport and shipping minister Nitin Gadkari said.

The investments, however, will depend on the outcome of the negotiations on gas price as Iran has offered to supply natural gas at $2.95 while India wants rates to be lowered.

"Prime Minister will hold a meeting soon, may be this month to consider investment proposals from different ministries at the Chabahar SEZ. If we get gas at reasonable rates from Iran we will definitely think on Chabahar," Gadkari told PTI.

India is ready to invest Rs 2 lakh crore at Chabahar SEZ in Iran but the investments would depend on gas prices, the minister added.

He said India has also received proposals for gas from three other nations and was "assessing all alternatives" without disclosing the names of the countries.

Gadkari said among other investment plans in roads, ports and railways, India proposes to set up a gas-based urea plant at Chabahar while exploring other alternatives too.

"In China coal-based urea is manufactured that costs Rs 10,000 a tonne. It is a Rs 100-crore project. We are assessing all these alternatives," he said.

India, which imports around 8-9 million tonnes of the nitrogenous fertiliser, is negotiating for a price of $1.5 per mmBtu with the Persian Gulf nation in a move which if successful will see a significant decline in the country's Rs 80,000 crore subsidy for the soil nutrient.

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.

India has already pledged to invest about $85 million in developing the strategic port off Iran's south eastern coast, which would provide India a sea-land access route to Afghanistan, bypassing Pakistan.

If urea plant is set up there, it will result in slashing of urea prices in India by 50% and cut on huge subsidy on urea, which is Rs 80,000 crore, he said adding that Iran has invited Indian delegation there and he will lead it.

In 2013, Iran had offered gas at the rate of 82 cents, less than a dollar, the minister said.

The ministries of chemical & fertiliser and petroleum are working on the proposed 1.3 million tonnes per annum plant, which once successful, will lead to urea prices coming down by 50%, he had earlier said.

The minister had visited Tehran in May, and both nations had inked a pact to develop the Chabahar port.

Iran's foreign minister Mohammad Javad Zarif had also called on Gadkari recently.

Source : timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 15-04-2021
Notification No.43/2021 - Customs (N.T.)
Exchange rates Notification No.43/2021-Cus (NT) dated 15.04.2021

Date: 13-04-2021
Public Notice No. 01/2015-2020
Allocation of additional quantity of 3675.13 MT (raw/refined) sugar to UK under TRQ scheme for the year 2020-21

Date: 12-04-2021
Notification No. 21/2021-Customs (ADD)
Seeks to impose anti-dumping duty on imports of Normal Butanol or N-Butyl alcohol originating in or exported from European Union, Malaysia, Singapore, South Africa and United States of America for a further period of 5 years.

Date: 11-04-2021
Notification No. 01/2015-2020
Amendment in Export Policy of Injection Remdesivir and Remdesivir API.

Date: 09-04-2021
Public Notice No. 53/2015-2020-DGFT
Late cut for MEIS applications for exports made in the Financial Year 2019-20

Date: 08-04-2021
Notification No. 08/2021-Central Excise
Seeks to amend central excise notifications to make changes consequential to enactment of Finance Act, 2021.

Date: 08-04-2021
Notification No. 26/2021 – Customs
Seeks to amend customs notifications to make changes consequential to enactment of Finance Act, 2021.

Date: 07-04-2021
Public Notice No. 52/2015-2020
Change of office address of Regional Authority, Ahmedabad.

Date: 07-04-2021
A.P. (DIR Series) Circular No. 01
External Commercial Borrowings (ECB) Policy – Relaxation in the period of parking of unutilised ECB proceeds in term deposits

Date: 05-04-2021
Notification No. 41/2021-Customs (N.T.)
Seeks to notify Customs (Verification of Identity and Compliance) Regulations, 2021



Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001