German and Japanese firms pledge $4bn to Iranian petrochemicals

Damavand Petrochemical ComplexIranian petrochemicals: The German Linde Group has joined forces with Japan’s Mitsui to put together a $4bn investment packet into a range of Iranian petrochemical projects, the director for projects at Iran’s National Petrochemical Company (NPC) Marzieh Shahdaei said yesterday.
The lion’s share of the investment would be earmarked for the Damavand Petrochemical complex which is located in Phase II of the Pars Special Economic Energy Zone. The complex has been under development since 2006 and on completion will boost the country’s annual output from 60 to 90 million tons per year.
In the longer term, Iran hopes to reach an output capacity of 120m tones by 2020, and 180m by 2025.

Source: TREND