Rashtriya Chemicals and Fertilisers (RFC)

"With the sanctions squabble escalating between Iran and the US, New Delhi is instructing Indian firms to go slow on the proposed projects in Chabahar Free Trade Zone lest their financial transactions and technology imports from the rest of the world get caught in the crossfire. The first message from the Ministry of External Affairs has been conveyed to the Department of Fertilisers to instruct state-run Rashtriya Chemicals and Fertilisers (RCF) - which had been directed last November to shortlist the Iranian joint venture partner and firm up the feasibility report for the urea project - to suspend further actions. The MEA has told the Department of Fertilisers that it "must wait for some time before taking any further decision". It said that it would subsequently clarify India's stand on Iran, including the possibility of funding the project." (Indian Express, "Rising Iran-US tensions: Govt Asks Indian Firms To Go Slow On Chabahar Projects," 3/29/2017).
 

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“Iran is likely to supply gas at USD 3 per mmbtu for India's proposed urea and ammonia plant to be set up in the Persian Gulf nation. Rashtriya Chemicals and Fertilisers (RCF) and Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) have been jointly working on this project. The project will also include an Iranian firm. The project is proposed to set up at a petrochemicals hub at Chahbahar, Iran, using natural gas as feedstock with an estimated investment of about Rs 7,000 crore. ‘Talks are at an advanced stage and there have been indications from the Iranian authorities for supplying gas at USD 3 per mmbtu,’ sources said. As per the proposal, the Iraninan government will assure supply of gas at fixed rate and India will lift the total quantity of soil nutrients produced at the proposed plant. Work on the project has expedite following the lifting of sanctions on Iran by the US in November last year…The Fertiliser Ministry had also received a letter from the Iranian embassy inviting a delegation from India to discuss gas prices and supply for the proposed urea plant there, sources added.  However, the Indian government is already in talks with Iran to provide financial assistance and develop Chabahar port.” (Business Standard, “Iran may supply gas at $3/mmbtu to India's proposed urea plant,” 4/17/14) 

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"India is likely to expedite the process of setting up of urea and chemical plants in Iran and a delegation may visit the country next month discussions on gas prices as the Persian Gulf nation gets relief from global sanctions. Rashtriya Chemicals and Fertilisers (RCF), Gujarat Narmada Valley Ferilisers & Chemicals (GNFC) and Gujarat State Ferilisers & Chemicals Ltd (GSFCL) are planning to jointly set up urea and chemical plants in Iran with an estimated investment of Rs 7,500-8,000 crore…’A delegation of officials from the Fertiliser Ministry, RCF, GNFCL and GSFCL are likely to visit Iran next month to discuss about assured gas supply and prices for the proposed urea plant to be set up there,’ a senior official of GNFC told PTI. The plant is proposed to set up at a petrochemicals hub at Chahbahar, Iran, using natural gas as feedstock. ‘Gas prices are lower in Iran as compared to domestic prices. This is the reason we are looking forward to set up a plant in Iran,’ the GNFC official said. However, Indian government is already in talks with Iranian government to provide financial assistance and develop Chabahar port.” (Economic Times, “Indian delegation may visit Iran for discussions on urea plant,” 11/25/13)