China is planning for major investment in Iran’s petrochemical industry. A Chinese investor will invest $1.3 million in the joint project, Reza Hosseini, director general of the Economic Affairs and Finance Office of East Azerbaijan Province, said.
According to sources, the Chinese side will provide 85 percent of the projects’s investment, meanwhile Kharvana Petropalayesh Company, the project’s Iranian partner, will undertake 15 percent of the investment.
The plant will be capable of producing 520,000 tons of polypropylene per year, the official said.
