India needs to decide fast on IPI: Iran

Apparently losing patience, Iran today suggested that India needed to decide fast on the proposed tri-nation gas pipeline project, failing which Tehran would go ahead bilaterally with Islamabad on it.

Iranian Ambassador Seyed Mehdi Nabizadeh said the outstanding issues of pricing and security related to IPI pipeline could be addressed through discussions.

"We hope Iran-Pakistan-India (IPI) would materialise in some time," he told reporters when asked to comment on the status of the $7.4 billion project that was mooted with much fanfare four years ago but has failed to take off because of apprehensions in India with regard to security and differences over pricing of gas.

"Though there are some issues of security in the way, we believe this issue can be addressed through bilateral and trilateral agreement," the envoy said.

On the issue of pricing, he said, "Since price is governed by international finance structure, we can reach agreement on that."

Nabizadeh said while it awaits India's response, Iran is negotiating with Pakistan bilaterally.

"Our agreement with Pakistan is designed in a such a way that it has room for India if it wants to join in future. But we hope it will not be so long that there is no room left for India to join," he said.