Entekhab Investment Development Group from Iran will sign an engineering, procurement and construction plus financing deal with South Korea's PIELDS Engineering Co. Ltd Company in Tehran on Monday.
The deal, being signed after a year of negotiations, concerns development of a pentane project in Assaluyeh region, south of Iran, while the South Korean President is in Tehran for a landmark 3-day visit to the OPEC member. The project is being carried out for production of 175,000 tons of pentane, a strategic item for production of petrochemical products.
The Korean Exim bank will finance the 19-month project, according to the deal.