Sunday Aug 21, 201104:58 AM GMT
Iran, Venezuela build petchem complex
Sun Aug 21, 2011 4:58AM
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National Iranian Petrochemical Organization Managing Director Abdolhossein Bayat
Iran and Venezuela have begun construction of a petrochemical complex in Assaluyeh in the southern province of Bushehr, National Iranian Petrochemical Organization (NIPO) says.

NIPO Managing Director Abdolhossein Bayat made the remarks on Saturday, adding that the Iran-Venezuela Petrochemical Complex will help the Islamic Republic to keep its uptrend in the petrochemical sector, the Mehr news agency reported.

Bayat noted that although the executive operations for building a methanol unit in Assalouyeh have been started with the participation of Venezuela, the agreements for implementing a similar project in the South American country are not finalized yet.

The deputy oil minister added that Iran is currently in talks with Venezuela and Indonesia for building two petrochemical complexes in Pars Special Energy Economic Zone in Assaluyeh, stating that as soon as the deals are finalized, the projects will officially start.

During the Venezuelan president's visit to Tehran in October last year, Iran and Venezuela agreed to jointly construct petrochemical plants.

They also signed 11 memorandums of understanding to promote cooperation in many areas, including oil, natural gas, textiles, trade, and public housing.

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