LONDON (Reuters) – Total (TOTF.PA) and Iran have reached a preliminary agreement to build three petrochemical plants in a deal that if finalised could see the French oil major investing up to $2 billion in Iran,
LONDON (Reuters) – Total (TOTF.PA) and Iran have reached a preliminary agreement to build three petrochemical plants in a deal that if finalised could see the French oil major investing up to $2 billion in Iran, an Iranian oil industry official said on Tuesday.
“In the latest talks, the two sides have reached agreement for construction of petrochemical plants with the total capacity of 2.2 million tonnes of petrochemical and polymer products per year,” the managing director of Iran’s National Petrochemical Company (NPC) was quoted as saying by the oil ministry’s news agency SHANA.
“We predict that Total would invest $1.5 to $2 billion in Iran’s petrochemical industry if we reach final agreement,” Marzieh Shahdaei added.
A spokesman for Total said: “Total and Iran’s National Petrochemical Company are currently working on an in-depth study of an ethane-based petrochemical project whose figures (Capex especially) have to be fine-tuned.”