Japan’s Itochu to finance petchem projects in Iran
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Japan’s ITOCHU, a trading and investment business conglomerate, signed a petrochemical contract in Iran with Iran’s Persian Gulf Petrochemical Industries Company (PGPIC) to finance petrochemical projects in Iran. The contract, which was worth €320 million, followed another contract of the same value with PGPIC signed in September, the reports indicated.
PGPIC reportedly plans to attract foreign investment to €1.5 billion along with short-term and medium-term contracts by March 2017.
Iran’s annual petrochemical production is currently reported to be at 60 million tons. According to media reports, this will rise by 8.5 million tons by March 2017 along with the start-up of a series of new petrochemical projects.
PGPIC reportedly plans to attract foreign investment to €1.5 billion along with short-term and medium-term contracts by March 2017.
Iran’s annual petrochemical production is currently reported to be at 60 million tons. According to media reports, this will rise by 8.5 million tons by March 2017 along with the start-up of a series of new petrochemical projects.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Pent-up demand lifts India’s PP market
- Europe continues to defy global PVC trend
- Egypt’s PP, PE markets continue to slide in January
- Europe’s PE markets under pressure from rising supplies
- PP demand fares better than PE in Turkey
- Taiwanese major poised to come lower for a 3rd month to Asian PVC markets
- Covid concerns loom large in China, hitting demand and supply-chain
- Egypt’s PVC markets extend drops into January
- SE Asian PP, PE markets look for direction amid tepid demand, rising freights
- European PS, ABS markets open 2022 on firm footing
