China’s CNTIC to invest €1.7bn in Iranian Mehran petrochemical plant

Signing of Mehran petrochem deal 2 Mehran petrochemical plant: CNTIC – the China National Technical Import & Export Corporation – this week agreed to invest €1.65bn in the construction of Iran’s first petrochemical plant in Mehran, close to the country’s border with Iraq. Once up and running, the plant will be Iran’s first facility capable of producing the petrochemical products required for the manufacture of a range of products including nylon, detergents, paints, aspirin and gasoline additives.
The deal was struck with Iran’s Petrosaman Faragostar whose Managing Director Mohammad Reza Daqiqis said that he expected construction to take 40 months to complete and to generate 3,000 jobs.