Tehran – Iran and Italy’s Maire Tecnimont have signed a €1 billion memorandum of understanding for the building of a refinery and petrochemical plant in Iran’s southern oil and gas rich Assaluyeh port.
Iran, Tecnimont sign €1bn rubber agreement
The Italian firm will carry out the engineering design and construction of a rubber and ABS plant as part of Iran’s bid to create the “biggest petrochemical park in the Middle East” in Assaluyeh, Iranian media reported on 14 Feb.
The agreement was signed between Tecnimont and Iran's Persian Gulf Petrochemical Industries Co. (PGPI).
“Tecnimont will cooperate with Iran in providing finance, equipment and facilities, and tackling process glitches in the petrochemical complexes,” said CEO Pierroberto Folgiero who was travelling to Tehran for the agreement.
“Italy is looking into opening a new chapter of cooperation with Iran, particularly in the oil and petrochemical industries,” he said.
Tecnimont was actively present in Iran’s polymer industry before international sanctions were intensified against the Islamic Republic a decade ago.
The agreement also follows multi-billion-euro oil and gas agreements between Iran and Italian oil giants Eni and Saipem during a visit by president Hassan Rowhani to Rome in January.
ERJ has not been able to contact Maire Tecnimont for further details.
(Image: Mehr news agency)