Iran, EU to build petrochemical plant in Asaluyeh
Persian Gulf Petrochemical Industries Company (PGPIC) and an European Company agreed to jointly build a petrochemical plant with worth 3 billion euro in Asaluyeh, Adel Nejad-Salim, CEO of PGPIC said May 22.
He added that the plant would produce two types of polymers for first time in Iran.
Without mentioning the name of European Company, he said that the memorandum of understanding has been signed already between PGPIC and European Company.
However, during the last two years, PGPIC has signed 9 MoUs with foreign companies, including 2 German (BASF and Linde), a French (Total) and two Italian companies (Tecnimont and Versalis S.p.A.).
Nejad-Salim said that there are other two projects worth 1.5-2 billion euro expected to be signed in near future and the total worth of PGPIC’s new projects would reach around five billion euro.
Iran expects attracting $10 billion foreign investments in petrochemical projects in near future, Iran's Deputy Oil Minister for International Affairs and Commerce Amir-Hossein Zamani-Nia said Apr.26.
Iran plans to inaugurate 7 petrochemical plants during the current fiscal year, started March 21.
The country would inaugurate 23 plants next fiscal year and further 34 plants by 2021.
For completion of the current petrochemical plants, some $20 billion and for 34 new projects, some $35 billion investment is required to increase the current 62 million tons per year nominal production capacity to 150 mn mt/yr by 2025.
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