Iran’s Marun Petrochemical Company (MPC) is close to finalising an engineering contract with Shell for two new petrochemical plants, the Iranian company said.
Rahim Sharif Mousavi, managing director of MPC said the company had negotiated with Shell and two other Iranian companies for executing two new plants including an ethylene oxide project and is now in contract finalising process, according to Islamic Republic News Agency (IRNA).
The engineering contract with Shell could be finalised in coming weeks, he said.
Earlier, Hossein Alimorad, director of investment department at the National Petrochemical Industries Company said the company is in negotiations with a major European company to transfer knowledge, technology with a contract to be signed soon.
He said the contract would be for the European company to participate in a joint venture for Iran’s petroleum projects.
Iran’s current petrochemicals production capacity is near 62 million tons, which is expected to rise to 120 million tons after the country launches its seven new planned plants, estimated at a cost of $50-80 billion.