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.
The Trump administration announced new sanctions against groups, companies and individuals with ties to Iran, a day after certifying the Iranian government is complying with the November 2015 nuclear ... more
US Secretary of State, Rex Tillerson, notified the US Congress on July 17 that while Iran is complying with the nuclear agreement, the country remains “one of the most dangerous to US interests in ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more