Japan Firm in Talks for   $1 Billion Petrochem Project
Japan Firm in Talks for   $1 Billion Petrochem Project

Japan Firm in Talks for $1 Billion Petrochem Project in Iran

Japan Firm in Talks for $1 Billion Petrochem Project in Iran

Talks are underway between the National Petrochemical Company and Japan’s Sojitz Corporation on building a petrochemical plant with a total investment of €1 billion ($1.06 billion), said Hossein Alimorad, a NPC deputy for investment.
“We started studying the project, after signing an agreement last year… currently we are finalizing negotiations over direct investment in a petrochemical project,” NIPNA, the NPC's official news service quoted Alimorad as saying on Saturday.
In October, the two companies signed a memorandum of understanding to study establishment of a methanol-to-propylene plant in Iran.
 “We are in advanced talks over the petrochemical plant with the Japanese company and expect the deal to be finalized in the near future," the official said.
Sojitz will hold a stake in the petrochemical plant, Alimorad said without elaboration.
Polypropylene is a thermoplastic polymer with wide applications, including packaging and labeling, textiles, laboratory equipment and automotive components.
The Tokyo-based company operates in an array of industries, namely energy, minerals, chemicals, automobiles, agricultural and forestry resources, consumer goods and industrial parks. It is the largest seller of commercial aircraft in Japan.
The deal is part of effort to raise installed petrochemical production capacity to 130 million tons annually by 2020.


Short URL : https://goo.gl/FLOvqs
  1. https://goo.gl/9AjG0s
  • https://goo.gl/FzVZJ7
  • https://goo.gl/t5azDP
  • https://goo.gl/cFsNd6
  • https://goo.gl/VU3tpK

You can also read ...

The OGCI initiative is now made up of BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Pemex, Petrobras, Repsol, Saudi Aramco, Shell and Total.
ExxonMobil, Chevron and Occidental Petroleum are joining the...
New Delhi Will Pay for Iranian Oil in Rupees
India may revert to paying Iran in rupees for the oil it buys...
Zanganeh to Veto OPEC Decisions Against Iran
Oil Minister Bijan Namdar Zanganeh on Thursday said he would...
US Wants Lower Oil Prices  for Protecting Arab States
US President Donald Trump on Thursday demanded OPEC lower...
Iraq Crude Exports From South Nearing Record High
Crude oil exports from southern Iraq are close to a record...
MAPNA to  Build Petrochem,  Power Plant in Parsian SEZ
Iran's top engineering and energy enterprise MAPNA Group is...
US Oil Sanctions to Harm Int'l Economy
Imposing sanctions against oil producing states like Iran will...

Add new comment

Read our comment policy before posting your viewpoints