China to invest $5 billion in Iran's petrochemical project

Oil&Gas Materials 25 May 2011 15:08 (UTC +04:00)

Azerbaijan, Baku, 25 May/Trend/

A Chinese company will invest $5 billion in building a methanol complex at Mahshar Petrochemical project, Mehr News Agency reported.

China will develop downstream petrochemical units and creating upstream, middle stream and downstream industrial chain of cluster methanol in Mahshar economical petrochemical region.

The company's representatives reviewed petrochemical infrastructure of Mahshar port as Iran's first petrochemical hub.

Providing food and 50 hectare ground and suitable infrastructures are among China's preconditions for investment in Iran petrochemical industries.

Iran 's production capacity of petrochemical products reached 38.6 tons in 2009 compared to last solar year (end March 20, 2010) Iran's petrochemical products hit 51 million tons.

Iran produced around 40 million tons of petrochemical materials with 30 million tones intended for export.