Home / Knowledge / News / Textiles / Chinese investors to fund 4 petrochemical projects in Iran
Chinese investors to fund 4 petrochemical projects in Iran
16
May '14
Four petrochemical projects, all in southwest of Iran, will be funded by Chinese investors, according to a TREND News Agency report.
 
Chinese companies would be investing €470 million in the construction of Lordegan Petrochemical Complex, the report said quoting Iran’s Mehr news agency.
 
Chinese investors have also pledged to finance Bushehr, Hengam and Gachsaran petrochemical complexes, the report said.
 
The process of extending credit to Iranian petrochemical projects by the Chinese firms went ahead after the November 24, 2013, interim agreement signed between Iran and the 5+1 group consisting of the five permanent members of the UN Security Council plus Germany.
 
In March this year, Abbas Sheri-Moqaddam, managing director of National Petrochemical Company (NPC), said that around US$ 8 billion worth of foreign investment is required for the development of the country’s petrochemical sector and the NPC is trying to attract investment from foreign investors.
 
Meanwhile, the NPC is setting up a Petrochemical Development Fund, wherein private investors, banks and other potential investors would be involved. The fund would help finance petrochemical development projects.
 
The exports of petrochemicals from Iran increased by about one percent year-on-year to US$ 10.723 billion during the last Iranian calendar year that ended on March 20, 2014. In the new Iranian calendar year that began on March 21, 2014, the country’s petrochemical exports are likely to touch $12 billion, as per NPC estimates.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: The White House

Textiles | On 21st May 2018

China, US put trade war on hold

Following weeks of uncertainty over imposition and counter-imposition ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search