MOSCOW (MRC) -- Iran and Japan signed 320 million euro petrochemical deal with usance payment facility in a bid to promote economic ties, reported IRNA.
This is the first usance payment facility deal signed by the Iranian Persian Gulf Petrochemistry Holding and Japanese Marubeni.
It was also announced that another deal with the similar amount which can be increased to 640 million euros has been finalized to be signed in near future.
The Persian Gulf Petrochemical Holding is slated to attract 10 billion dollars joint venture foreign investment in petrochemical industry.
Currently, Iran has the capacity to produce 60 million tons of all types of petrochemicals and it intends to raise the amount o 120 million tons until 2025.
To this end, some 50 billion dollars is needed, large sections of which must be attracted from foreign investments.
As MRC informed previously, as of 2015, number of active Iranian Petrochemical complexes were 53, with total production capacity of 59 million metric ton, producing range of polymers, chemicals, aromatics & liquid gas, located mainly at Iranian south region, next to Persian Gulf, called Assaluyeh and Mahshahr Special Economic Zones.
At the moment, there are 67 developments projects in the country which are under construction, adding 61 million metric ton on total production and estimated to fully run till 2018.
MRC