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NIORDC holds talks with investors to invest in construction of petrochemical complex in Iran

August 6, 2014 3:23 am

National Iranian Oil Refining and Distribution Company (NIORDC) is holding negotiations with foreign and private-sector investors, to invest over $2.4bn in the construction of a petrochemical complex in Iran, the Mehr news agency reported on August 2. Shahabeddin Mataji, director for planning at NIORDC said that the complex will be comprised of eight gas condensate refining units, he said, adding that NIORDC will sign contracts with eligible applicants in October, and the units should be established over the course of 3-4 years. IRNA news agency reported on June 25 that the Oil Ministry of Iran has called on the country’s private sector to build eight small-scale gas condensate refineries at the South Pars Special Energy Zone. The refineries each will have a capacity to refine 60,000 barrels of gas condensates per day.