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

Tehranis show little support for hijab wearing in released government report

Public support for Iran’s compulsory hijab wearing has dramatically dropped in the past few years, according to a report released by the government on February 4. The report released by ... more

Islamic Republic to issue first ever foreign currency bonds

The Central Bank of Iran (CBI) has announced a plan to issue foreign currency-denominated bonds for the first time in the history of the Islamic Republic, Islamic Republic News Agency reported on ... more

Iran’s rial sinks to all-time low of 47,000 to the dollar

The US dollar pushed above the 47,000 to the Iranian rial (IRR) threshold by the end of trade on February 5, gaining more than 1.1% and sending the IRR to an all-time low on the unofficial market, ... more

Dismiss