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Iran, Total about to conclude $2 bil petchem deal

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/10/2016 (17:45)
According to media reports, it is expected that a major petrochemical deal worth $2 billion between French Total and Iran will be finalized by March 20, 2017, the end of the current Iranian calendar year.

The managing director of Iran’s Persian Gulf Holding Company, Adel Nejad-Salim stated that the French company has put petrochemical projects in Iran into perspective in the last few months, adding that Total will invest in one of Iran’s downstream olefin projects soon. He also reported that an initial deal had been previously signed between Total and Iran in January of last year after the nuclear deal.

Total had signed a Memorandum of Understanding (MoU) with Iran in order to be able to invest in Iran’s petrochemical industry after the implementation of the Joint Comprehensive Plan of Action (JCPOA) which is Iran’s nuclear deal in January.
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