Irans Petrochemical Commercial to sign memorandum for investing in Macedonia.

By bne IntelliNews January 24, 2011
Iranian corporation Petrochemical Commercial Co. (PCC) is expected to sign soon a memorandum of understanding concerning investment of over EUR 100mn in Macedonia, Nova Makedonija daily reported. PCC is engaged in marketing and sales of petrochemical products globally. After preliminary negotiations held last month, the local government has given PCC green light to prepare a detailed business plan for the planned investment, the daily reports. Meanwhile, the government has not provided any details, explaining that it does not want to create expectations before the signing of the memorandum and the companys final decision on the investment. The daily further reports that one of PCCs investments will be situated in the free economic zone Bunardzik and will be directly linked with the automotive industry. The newspaper comments that it will be twice the size of the investment of UKs Johnson Matthey. As recalled, last April Johnson Matthey opened its GBP 34mn facility for the production of emission control catalysts in Bunardzik.

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