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China to assist Iran in building world's biggest petrochemical complex

Business Materials 30 July 2011 13:00

Azerbaijan, Baku, July 30 /Trend/

China will invest $4 billion in construction of the world's biggest petrochemical complex in Iran, the Mehr News Agency reported.

The petrochemical complex with annual production capacity of 4 million tons of fertilizer urea and Ammonia is to be constructed in the Masjed Soleiman city.

The petrochemical complex construction is scheduled to be completed during 40 months.

China holds 85 percent in the project and private sector - 15 percent. The project will be implemented in 4 phases.

The National Iranian Oil Company and National Petrochemical Company will supply ethane to the complex. However, the transportation of sulfur from the complex to domestic and international market is still to be considered.

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