According to India's The Telegraph, IOC admitted that the deal for Haldia is more or less buried and that Bengal's loss may be Iran's gain. A team of senior IOC officials will head off to the Middle Eastern country to do a feasibility study on setting up a giant petrochemicals plant in Iran with Iran's National Petrochemicals Company.
Such a move is made more feasible by Iran's abundant supply of natural gas, which can be used as a feedstock.
If a move to Iran goes according to plan, the Haldia Petro will be called off despite the fact that lenders have hammered out a corporate debt restructuring package and the fact that Gail has come onboard as a promoter of the project.
