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Iranian, domestic, foreign companies sign 27 petrochemical contracts

Iran Materials 27 May 2012 12:59 (UTC +04:00)

Azerbaijan, Baku, May 27/Trend M. Moezzi

Several domestic and foreign firms have announced they are ready to partner with Iran in building the Hormoz Petrochemical Complex after an Omani company left the project.

If the Oman Oil Company (OOC) refuses from building the Hormoz complex, Iran will not have a shortage of companies that want to cooperate in its petrochemical projects, Pana news agency reports.

Foreign companies have signed 27 contracts with Iran to develop its petrochemical industry, Managing Director of the National Petrochemical Company Abdol Hossein Bayat.

The contracts have been sent to Iran's Central Bank for consideration.

One of Iran's joint projects involves Indonesia's cooperation on the Hengam Petrochemical Complex. At present, Iran and Indonesia are working on financing a phase of the Hengam complex, which will be built in the Pars Special Economic Energy Zone (referred to as Assaluyeh) and is to produce ammonia fertilizer.

Bayat asked for the banking system's support in financing new petrochemical projects. If the funding is provided, petrochemical projects, 70 percent of which are finished, could be completed by the end of the current administration.

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