Chinese companies will invest $ 7 billion. in the petrochemical industry of Iran

The contribution of Chinese investors to the Iranian petrochemical industry has not changed since the us withdrew from the nuclear deal. This was stated by the investment Director of the Iranian national petrochemical company (NPC) Hossein Alimorad, writes Iran.ru. According to the official, some investors mistakenly believe that Chinese financing is different from the rest of the world, while it is not, and all it requires the same licenses and approvals.

Last week, Alimorad announced that the NPC has completed an agreement with a consortium of companies from China and the Philippines on investments of $ 7 billion. in the petrochemical industry of Iran.

The consortium has registered a representative company in Iran, and the final steps to award the agreed project are under way.

“The consortium plans to build a petrochemical plant to process the entire additional methanol chain,” Alimorad said.

“The total cost of this petrochemical project is $ 7 billion, of which $ 2.8 billion will be spent on the first stage of the project,” he added.