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

London NEX-listed Indigo claims it got nod to avoid mention of “Iran” in disclosure papers

A listed British investment company linked to one of Iran’s largest investment banks failed to disclose that its focus is on the Islamic Republic, Euromonitor wrote on November 21. Iran’s ... more

South Korea's BGF opens first convenience store in Iran

BGF Retail Co, operator of South Korea’s largest convenience store CU, has opened its first retail store in Iran, Yonhap News agency reported on November 22. The retailer added that the move was ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Dismiss