Managing
Director of Tamin Petroleum & Petrochemical Investment Company (TAPPICO)
Mohammad Hassan Peyvandi said investors from Japan and South Korea are in talks
for opening credit lines to finance the project.
Speaking
during a visit to Khorasan Petrochemical Plant in northeastern Iran, the
official said production of petrochemicals from Khorasan Province will double
once new projects become operational in the province.
He said
the project is now at preliminary engineering stage, adding it will become
operational in a matter of 4 years if signed off by Khorasan Petrochemical
Plant’s board of directors.
Peyvandi
further added that talks are under way with companies from Japan and South
Korea including Chiyoda and Hyundai for opening an $8b credit line for
financing petrochemical development projects in the province.