Hassan Bahari-Bandari added the production capacity of the complex would be one million tons of urea and 670 thousand tons of ammoniac.

Members of board of directors and the two contracting parties of Iran and Oman had been determined, said the official, adding, but the petrochemical complex had yet to be registered.

Bahari-Bandari said the executive contractor would be picked up in the near future.

“The project needs an investment of about 500 million euros,” said the manager.