State-owned power utility NTPC may come up with a 250 billion rupee ($5.1 billion) natural gas-fired power plant in Iran to generate at least 5,000 megawatts.

Notably, India imports 70 per cent of the oil it consumes. Moreover, there is a huge shortage of coal, shortage of gas in the country.

Speaking on this, power secretary HS Brahma said, “A smaller power station will not be viable as the power will be transmitted to India across a 1,000-km high-voltage transmission line. This is a proposal from the ministry of external affairs. A team from Iran is likely to visit India this year to explore the possibility of investing in India and vice versa.”

He further added that PowerGrid Corp of India will build transmission network.

Earlier on Monday, an Indian newspaper reported that India may build a 6000 MW power plant in Iran.