Golestan Plant Seeking Foreign Investments

Golestan Plant Seeking Foreign Investments
(Friday, January 13, 2017) 20:07

TEHRAN (NIPNA) -- Managing Director of Golestan Petrochemical Plant Alaoddin Heidari said his company is seeking to secure foreign finances for completion of the project within the next 3 years.

 

Speaking to NIPNA, Heidari said his company has so far held talks with Korean, Italian, Chinese and German companies for luring them into investment in the project, expressing hope the project will receive timely finances for completion.

He said the facility will need €324m in finances, saying the National Development Fund of Iran was previously supposed to be dipped into to procuring the sum which was never realized. 

Heidari said the Persian Gulf Petrochemical Industries Company (PGPIC) as well as other state organizations may also join the project as well. 

He said the facility has no legal issued for financing and the only thing keeping its progress is designation of a financier which can be either private or governmental and domestic or foreign. 

The facility is being developed for production of 677,000 tons of ammonia annually.

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