India ready to invest over $15b in Iran

New Delhi - India is one of the handful countries that continued trade links with Iran, isolated by Western countries against its disputed nuclear programme.



By Reuters

Published: Thu 24 Sep 2015, 12:00 AM

Last updated: Thu 24 Sep 2015, 10:48 AM

India is ready to invest more than $15.2 billion to build projects in Iran, including taking up full-scale development of Chabahar port if Tehran offers better terms, including cheaper gas, Shipping Minister Nitin Gadkari said on Wednesday.
India is one of the handful countries that continued trade links with Iran, isolated by Western countries against its disputed nuclear programme.
"We are ready to make a huge investment in Iran and this is mainly linked to gas pricing offered by Iran ... Gas price is a crucial issue," Gadkari said.
Days before the historic nuclear deal, President Hassan Rouhani offered India a greater role in infrastructure projects, including overall development of Chabahar port.
India hopes to take a decision on Iran's latest offer by early October after obtaining reports from other ministries, including petroleum, chemical and fertiliser, and steel by Monday, Shipping Secretary Rajive Kumar said. - Reuters


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