Iran, Europe to build first joint petrochemical plant

EghtesadOnline: Persian Gulf Petrochemical Industries Company (PGPIC) and a European company signed an agreement worth €3 billion to build a petrochemical plant in Asaluyeh in order to produce two types of polymers for the first time in Iran, the CEO of PGPIC announced.

News ID: ۷۴۱۶۴۱

22 May 2017

“These two types of polymers will be produced in Iran for the first time and they are also exclusive in international petrochemical industry level,” Adel Nejad-Salim, CEO of PGPIC said.

“Currently, the implementation process of the joint petrochemical project is in feasibility studies phase and more details about the type of partnership with the European company, production capacity and etc, will be announced following the completion of the negotiation,” he added.

According to him, it is anticipated at least €3 billion to be invested in design, construction and utilization of the joint petrochemical project.

Iran expects attracting $10 billion foreign investments in petrochemical projects.