China agrees to invest €2 bln in building petrochemical plant in Iran
Baku, Azerbaijan, June 10
By Fatih Karimov - Trend:
China National Aero-Technology Import& Export Corporation (Catic) has agreed to invest €2 billion in building a petrochemical plant in Iran.
The two countries have signed an agreement in Beijing, based on which the Chinese company will invest €2 billion in building a petrochemical plant in Iran's southern province of Bushehr, Iran's Mehr news agency reported on June 10.
All the construction operations will be carried out by Iranian companies and contractors.
According to projections, the first phase of the project will come on stream by the next two years and the second phase will come on stream by March 2018.