Indian Oil Corporation is seeking to build a $3 billion petrochemicals plant in Iran, Bloomberg reports.
After the lifting of sanctions, Iran has figured out the need to upgrade technology to regain previous levels of oil production.
On the other hand, India is trying to solve its energy problems by getting access to cheap Iranian gas. Tehran has promised that the new petrochemical plant will receive no less than 1 million tonnes of this natural resource per year, Gazeta.ru reports.
