Azerbaijan, Baku, July 5/Trend/
Iran and Russia recently signed a $1.5 billion agreement to construct a petrochemical complex in Assalouyeh, the Mehr News Agency reported.
After three years of negotiations between National Iranian Petrochemical Company and a Russian oil company, two parties have signed the agreement to construct a large petrochemical complex in two sectors of the Pars Special Energy Economic Zone in Assaluyeh.
The Russian company will invest $1.5 billion to construct the petrochemical complex. The National Iranian Oil Company will provide fuel for the complex from the South Pars field.
According to a report, the final contract is expected to soon be signed by the two countries.
Iran and Russia signed an agreement last year to implement joint gas and oil projects: the oil swap, the transit of crude oil and natural gas, and the establishment of a joint oil bank.