By John Lee.
Following the multi-billion dollar gas deal announced earlier this week, Platts reports that France’s Total is on the verge of making a big investment in Iran’s petrochemical sector.
Oil Minister, Bijan Zanganeh was quoted in local media as saying that a deal involving a full ethylene production cycle is in negotiation.
Marzieh Shahdaei (pictured), managing director of the National Petrochemical Company (NPC), is quoted as saying that the plant would have capacity of around 2.2 million mt/year, and that Total will invest between $1.5 billion and $2 billion in the project.
(Image credit: Tasnim, under Creative Commons licence)