• search
For Quick Alerts
For Daily Alerts

Foreign firms agree to finance petrochemical projects in Iran

By Super Admin

Nicosia, Aug 20 (ANI): The Head of the National Petrochemical Company of Iran Adel Nejad-Selim has said that a number of firms from Russia, Turkey, India, Oman and South Africa have reached preliminary agreements with Iran for the financing of petrochemical projects in the country.

He did not reveal the names of the foreign firms involved.

Nejad-Selim was quoted by the Mehr News Agency as saying that about 3.3 billion dollars is required for the establishment of urea, polyethylene, olefin and methanol production units and complete the semi-finished projects by the end of the current Iranian year (March 19, 2010).

The Managing Director of the National Petrochemical Company said he expected that four petrochemical projects for which more than one billion dollars was spent would start production next month in the Pars Special Energy Economic Zone.

One of these projects is the Zagros Petrochemical Complex second unit, which will produce 1.65 million tons of methanol.

It should be mentioned that Oman has signed a memorandum of understanding with Iran to build a new plant in South Pars that will produce annually one million tons of ammonia and 650,000 tons of urea.

The cost of the project, which is about 800 million dollars and will be shared equally by Oman and Iran. (ANI)

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more