India's Highways and Shipping Minister, Nitin Gadkari suggested that the free trade zone in Chabahar had the potential to attract upwards of $15 billion worth of investment in the future,[314] although he stated that such investments are predicated upon Iran offering India natural gas at a rate of $1.50 per million British Thermal Units,[315] which is substantially lower than the rate of $2.95 per million British Thermal Units offered by Iran.[316] The two countries also signed a memorandum of understanding to explore the possibility of setting up an aluminum smelter at a cost of $2 billion,[317] as well as establishing a urea processing facility in Chahbahar,[318] although these investments are also contingent upon Iran supplying low-cost natural gas for operation of those facilities.[319]