Baku, Azerbaijan, March 13
By Khalid Kazimov – Trend:
Iran’s southwestern province of Khouzestan and Turkish holding of GAMA have inked an MoU for cooperation on a petrochemical project in Izeh Town.
Under the agreement, the Turkish company will put about $1.05 billion of investment in a project for creating a petrochemical plant in Izeh Town, IRNA news agency reported.
The project is expected to cost about $1.2 billion in total and create about 10,000 job opportunities in future, the report added.
Iranian petrochemical plants produced 49 million tons of petrochemical products during the first 11 months of the current Iranian fiscal year (March 20, 2017-Feb. 20). The output of Iran’s 51 petrochemical complexes registered an increase of 106 percent year-on-year.
The country’s petrochemical exports reached 20 million tons in the period, 108 percent more compared to the same period of the preceding year.