Jun 22, 2024 02:15

German Firm to Develop Masjed Soleyman Petchem Project

German Firm to Develop Masjed Soleyman Petchem Project
Iran has awarded a major petrochemical project in the southwestern city of Masjes Soleyman to Germany's Abels Decker Kuhfuß Lenzen (ADKL) for development.
Valued at €2b, the deal concerns development of the first phase of a petrochemical project in Masjed Soleyman, said ADKL’s Bernd Lenzen after signing the deal.
From Iran, Yousef Davoodi signed the deal on Thursday during the visit to Iran by Garrelt Duin, the state minister for economic affairs and energy of Germany’s Nordrhein-Westfalen State.
The contract's value can rise as high as €10 billion in the future, Lenzen told the reporters.
Tehran is trying to position itself as a safe investment destination in the Middle East and dozens of high-profile delegations from all continents have made the trek to the country for securing deals in a race to win a bigger market share in a ban-free Iran ever since the landmark deal the country struck with world powers in Vienna over its nuclear program and the removal of US-led sanctions on its key economic sectors back in 2015. 
Based on the deal, ADKL will assist Masjed Soleyman Petrochemical Industries Company (MSPIC) in providing funds, transferring the technology and implementing contracts for the project within the framework of engineering, procurement, construction and finance (EPCF).
MSPIC is keen on working with European enterprises, told the reporters the company's Managing Director Yousef Davoodi after signing the deal.
The project is to be developed in northern parts of Khouzestan province and will produce urea and ammonia as its key products. The daily production target of each in the first phase will be 3,250 tons of urea, 2,050 tons of ammonia.
May 31, 2016 13:26
nipna |
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