China to Invest in Iranian Petchem Project
Vice-President of Iran-China Joint Chamber Majid-Reza Hariri says a Chinese company is to make $400 million investment in a project for production of petrochemical catalysts.
According to MANA, Hariri said China is the major purchaser and the best market for Iranian petrochemical products.He said there is no impediment on the way of Chinese partnership in the catalyst project.
Alike their other international rivals, Chinese companies want to contribute to various Iranian petrochemical projects.
Based on a deal signed between Iran and China, bilateral transactions will by the next 10 years reach 60 billion dollars and the volume of trade will stand at 60 billion dollars on average.
As owner of the highest number of plants worldwide, China is in need of Iranian petrochemicals as basic material for different industries, said the official, adding, "So, there is no problem with sale of petrochemical products to China and major portion of Iranian petrochemical products are exported to China."