PGPIC, ITOCHU ink Polyethylene Sales Deal

The Persian Gulf Petrochemical Industries Company (PGPIC) and Japan’s ITOCHU Corporation have signed a deal for sale of polyethylene to the Japanese firm.

The document was signed on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show-2017) on Sunday.

Based on the deal, PGPIC will supply international markets with 11,000 tones of polyethylene on a monthly basis with a total value of 150 million dollars with the cooperation of ITOCHU.

The deal will be enforced in a few months. So far a polyethylene consignment has been sent to the Japanese company for quality assessment.

The document was signed pursuant to another cooperation deal between the two companies.

(Source: Shana)

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