Iran and Japan signed 320 million euros petchem dealStaff Writer | September 26, 2016
Iran and Japan signed 320 million euros petrochemical deal with usance payment facility in a bid to promote economic ties.
Energy 60 million tons of all types of petrochemicals
It was also announced that another deal with the similar amount which can be increased to 640 million euros has been finalized to be signed in near future.
The Persian Gulf Petrochemical Holding is slated to attract $10 billion joint venture foreign investment in petrochemical industry.
Currently, Iran has the capacity to produce 60 million tons of all types of petrochemicals and it intends to raise the amount to 120 million tons until 2025.
To this end, some $50 billion is needed, large sections of which must be attracted from foreign investments. ■