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China Invests $ 2/7 b in 12th Olefin
Tuesday, 24 April 2007 13:50
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China Invests $ 2/7 b in 12th Olefin

China Invests $ 2/7 b in 12th Olefin

China is going to invest in 12th Olefin phase in South Pars and Iran is looking to large world’s market in order to market its petrochemical products.

Talking about china’s willingness to invest in Iran’s petrochemical plants; national company of the petrochemical industry’s directing manager said: “in the negotiations Chinese and Iranian sides agreed on investing $ 2/7 billion in 12th Olefin and up-stream and down-stream oil industries.”
There will be a visit to China for official negotiations in the near future; Gholam Hussein Nejabat added: “Hong Kong is one of the most important centers for selling petrochemical products and we are going to be present in all investment, marketing and trade opportunities there.”
Iran will produce more than 23 million tons petrochemical products this year and needs more markets.