India, Iran Discuss Multi-Billion Dollar Joint Industrial Projects
In an exclusive interview with the TEHRAN TIMES, Chirayu R. Amin, the president of the Federation of Indian Chambers of Commerce and Industry (FICCI) , said, "Well, we are here in Iran to locate potential strategic business partners."
Amin was attending a luncheon hosted by the Iran Chamber of Commerce and Industry that coincided with the visit of Indian Prime Minister Atal Behari Vajpayeee, who arrived on Tuesday for a four-day visit at the invitation of President Seyed Mohammad Khatami.
"One of the most important projects on the table of Indo-Iranian industrial leaders is a 14,000-megawatt power plant that will be built in Iran with the cooperation of Bharat Heavy Electric Limited (BHEL)," Amin disclosed. He told the daily that $1.52 billion will be invested in the project and that details are being finalized by the experts of both countries.
"Another $1 billion project in the agricultural sector is under consideration. It would be set up in Iran with India supplying machinery and other necessary equipment," Amin said, adding that the project could be completed in two to three years.
"Another important project under consideration is a transit route for Indian goods through Bandar Abbas to the Caspian Sea," he noted.
"I believe this project will pave the way for the smooth flow of trade between India and Central Asia and Russia," Amin remarked and said, "The sky will be the limit of the volume of trade in the region and Iran will play a significant role in promoting this business that will bring peace and stability to the region."
"Computer software and hardware technology is another industry in which India has made fantastic progress and we will cooperate with Iran in this sector also," Amin said.
FICCI Senior Vice President Rajendara S. Lodha is also ready to cooperate with Iran. He owns Lodha and Co., the 6th largest international accounting firm.