NewsFlashChina, Iran to seal $530m petrochemicals deal

25 May 2010 02:15  [Source: ICIS news]

NINGBO, China (ICIS news)--Companies from China and Iran are expected to seal $530m (€424m) worth of deals in petrochemicals and related areas during a meeting at Ningbo city in eastern Zhejiang province, the China Petroleum and Chemical Industry Federation (CPCIF) said on Tuesday.

CPCIF declined to reveal details but said that the deals would include trade financing and logistics businesses.

CPCIF, formerly known as the China Petroleum and Chemical Industry Association (CPCIA), is an industrial association and coordinator in China's petroleum and chemical sector.

Members of the federation include most of the country's petroleum and chemical majors, such as China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC) and Sinochem.

($1 =  €0.80)

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By: Chow Bee Lin
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