Iranian and European companies signed a contract valued at €3 billion
($3.35 billion) to build a petrochemical plant in the Assalouyeh region
of southern Iran, said a report.
The funds are expected to be spent towards building a plant that will
make two types of polymers for the first time in Iran, Adel Nejadsalim,
CEO of the Persian Gulf Petrochemical Industries Company (PGPIC), was
quoted as saying in an Iran Daily News report, citing Fars News Agency.
Nejadsalim noted that the two types of polymers will meet international standards.
He added that currently the joint petrochemical project is undergoing
feasibility studies and further details about the type of partnership
with the European company, production capacity, etc. will be announced
following the completion of the negotiations.
