Iran’s MIS, China’s Wuhan reportedly plan $3.6bn fertilizer complex

By bne IntelliNews February 15, 2017

Masjid Soleyman Petrochemical Industries Co (MIS) has struck a deal with China's Wuhan Petrochemicals Co for the construction of a $3.6bn fertilizer complex in Iran, state-run Mehr news agency reported on February 15.

Privately owned company MIS intends to build a fertilizer complex in southwest Iran’s Khuzestan province to produce approximately 750,000mn t/y of ammonia and 1.2mn t/y of urea, it added. 

Cheap gas available in Iran - second only to Russia in terms of gas reserves - is a big lure for foreign fertilizer producers now that the country is no longer burdened by international sanctions applied prior to the January 2016 introduction of the nuclear deal.

The Iranian news agency said MIS managing director Yousef Davoodi and a representative of Wuhan signed the agreement, but provided no additional details.

Related Articles

Iran's supreme leader dumps Telegram Messenger and plugs domestic rivals as ban fears grow

Top Iranian officials including Supreme Leader Ayatollah Ali Khamenei stopped using the Telegram Messenger messaging application and started promoting domestic alternatives in advance of the April 18 ... more

China’s ZTE shares suspended after US hits company for breaking plea bargain over Iran exports

Chinese electronics giant ZTE Corp on April 17 was forced to halt trading of its shares in Hong Kong and Shenzen after the US slapped it with a seven-year ban on buying American-made chips ... more

Iran's black market phone disconnection drive pushes up legal mobile imports

Iran recorded non-black market mobile phone imports numbering 3.2mn handsets in the last Persian year (ended March 20), marking a 112% y/y gain, Tasnim News Agency reported on April 16. The sudden ... more

Dismiss