The managing director of Mamasani Petrochemical Plant, southern Iran, says his project has made only 10% progress and will need at least €350m in finances for completion.
Speaking to NIPNA,
Javad Ahmadinejad said progress of the project is not acceptable because of
lack of finances, adding efforts are being made for financing the project.
He said despite the Joint Comprehensive Plan of Action
(JCPOA) implementation and opening up of new banking interactions between
Iranian companies and foreigners, the project has not yet received enough
finances for completion.
The project will be fed by Gachsaran petrochemical Plant
which has made 30% progress so far.
Ahmadinejad expressed hope that the project will come
on-stream within a 36-month period provided that the required finances are
injected into the project.
Once operational, the project will supply 300,000 tons of
heavy-density polyethylene annually.