Petkim, Iran’s NPC sign MoU to build PE, methanol plants

20 April 2009 15:35  [Source: ICIS news]

PRAGUE (ICIS news)--Petkim has signed a memorandum of understanding (MoU) with Iran’s National Petrochemical Co (NPC) for a 50:50 joint venture to build a polyethylene (PE) and methanol plant in Iran, the Turkish producer said on Monday.

The PE plant would have an annual capacity of 300,000 tonnes, while the methanol plant would have 1.65m tonnes, Petkim said in a statement to the Istanbul Stock Exchange.

The financial side of the deal has been agreed, but this could not yet be disclosed, according to the statement.

Petkim is 51%-owned by Turkish fuel retailer Turcas and the State Oil Co of Azerbaijan (Socar).

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By: Will Conroy
+44 20 8652 3214

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