Indian Oil plans $3bn petrochemicals plant in Iran

Indian Oil  is planning to build a $3bn petrochemicals plant in Iran, according to unnamed sources quoted in Bloomberg yesterday. The plan is said to be conditional on Iran guaranteeing access to cheap natural gas as feedstock and is part of the Indian government’s wider strategy of investing in Iran’s upstream gas production and port developments in order to secure access to  the Islamic Republic’s huge supplies of hydrocarbons.  

Source: Bloomberg