Mohammad-Hassan Peyvandi, the deputy managing director of Iran's National Petrochemical Company (NPC), has told reporters the Indian companies have raised a proposal to the same effect during a recent visit by a major trade delegation from New Delhi to Tehran.
Instead of importing natural gas and turning it into urea, the Indian companies want to establish a plant in Iran and produce the urea here and then ship it to India, Peyvandi has been quoted as saying by Tasnim news agency.
What could further make this attractive, he added, is the fact that Irans southern shores - from where India plans to ship the produced urea - are close to India.
Nevertheless, Peyvandi said the Indian companies have proposed to buy Irans gas for their proposed project which is estimated to have an annual production capacity of at least 7 million tons at a very cheap rate.
The rate of the gas that the Indians want to use as feedstock for their proposed project is 2 cents [for each cubic meter of natural gas], he said, adding that approving or disapproving the rate is a decision that needs to be taken by high-level officials of the Iranian government.
By Press TV
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