Iran Signs two Agreements to Set up Petrochemical Plants
Iran's National Petrochemical Company signed Sunday two contracts with Italian and South Korean companies to set up carbon monoxide and acetic acid plants, reported the official IRNA news agency.
“Iran is determined to expand its petrochemical industry and raise its petrochemical production,” said Mohammad-Reza Nematzadeh, director of INPC.
He called for further contribution by Iranian and foreign companies to implement development projects in Iran.
The agreement with Italy is worth 37 million dollars, said IRNA, adding that the company will operate with a nominal production capacity of 140,000 tons of carbon monoxide a year.
The project is expected to be implemented within a period of 22 months. Meanwhile, the contract for the establishment of acetic acid production plant in Bandar Imam Special Economic Zone, is worth 54.770 million dollars.
It will be implemented within a period of 20 months.
The company will operate with a nominal production capacity of 150,000 tons a year, said IRNA – Albawaba.com
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