$1.2b Turkish Finance for Iran Petrochem Project

Natural gas will be the principal feedstock of the plant and over 98% of the consumed energy will be converted into usable products to cope with concerns over energy waste
The MoU entails constructing 100 midstream and downstream production units.The MoU entails constructing 100 midstream and downstream production units.

Turkey's Gamma Company, a leading firm active in the energy sector, has signed a memorandum of understanding with Khuzestan Governorate on the production of petrochemicals, including polypropylene, in the city of Izeh.
The agreement, worth $1.2 billion, was signed by Gamma's representative, Dondarf Koncal, and Gholamreza Shariati, the governor general of Khuzestan Province, on Monday in Izeh, IRNA reported.
Some $1.05 billion of the project will be financed by an unnamed German-Turkish company.
Describing the prospective petrochemical plant in Izeh as a major lucrative project, Koncal expressed hope that the company would succeed in implementing the project.


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