26 May 2007 - 17:39
  • News Code: 105607

TEHRAN – Managing director of Ardebil Petrochemical Complex announced that a memorandum of understanding has been signed with a Turkish company which is interested in purchasing the company’s stocks.

Seyed Mohammad Hossein Zeinali said that the Turkish company is willing to be a partner to Ardebil Petrochemical Complex project.

“The contract for supplying needed feedstock for the complex has been signed with the National Iranian Gas Company,” he added.

Zeinali further noted that negotiations have been carried out on purchasing needed machinery and equipment and contractor for procurement of machinery and equipment will be chosen soon.

“Also, contractor for construction of the complex will be chosen in a few months,” he added.

The project will be implemented over a plot of land with an area of 53 hectares, 17 km from Ardebil –Khalkhal road. The complex is to produce 1.1 million tons urea and 600,000 tons ammonia per year and the project will become operational in 36 months.

Arak Petrochemical Complex is investing in Ardebil Petrochemical Complex and needed machinery and equipment will be exported from the Netherlands, Italy, and England.

Foreign exchange investment in the project has been estimated at 370 million dollars and total investment has been estimated at 4,800 billion rials.


News Code 105607

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