Gulf Oil and Gas accountACCOUNT

Shell to Invest $350m in Petchem Project in Western Iran

Source: Shana 10/15/2016, Location: Asia

Royal Dutch Shell has planned to finance a petrochemical project in the western province of Hamedan by investing up to 350 million dollars in the plan, a local official said.

Head of the Industry and Mines Organization of the province Reza Matin said the Anglo-Dutch energy giant is mulling returning to Iran and Ibn Sina Petrochemical Plant is one of the projects it is considering for investment.

"They have visited the plant and we will cooperate with them for the transfer of technologies to the project," Matin added.

He said the technical savvy Shell is considering to convey to the project will be valued at $350m.

China previously invested $168m in the project, added the official.

The project is expected to receive up to $220m from the National Development Fund of Iran.

Last week, Iran's National Petrochemical Company (NPC) and Royal Dutch Shell signed a letter of intent (LOI) for starting studies for carrying out petrochemical projects in Iran.

A ceremony was held here in Tehran at NPC's locality for singing the document which was marked as the first firm step taken by the two sides since removal of the US-led sanctions on Tehran's nuclear program.

From NPC, Managing Director of the company Marziyeh Shahdaei and from Shell Hans Nijkamp, Shell Vice President Iran, signed the deal at the 13th floor of the NPC building on Sunday.

Investment News in Iran >>

United Kingdom >>  2/14/2020 - Zenith Energy Ltd., the international oil & gas production company, is pleased to announce that it has completed an offering in the United Kingdom wit...
Egypt >>  2/11/2020 - President Abdel-Fattah El-Sisi met with the CEO of Bechtel Corporation, Brendan Bechtel, in Cairo, and discussed ways to boost cooperation with the US...

India >>  2/6/2020 - Adani Green Energy Limited (AGEL) and Total Gas & Power Business Services SAS (TOTAL) have entered into a binding arrangement for investment of approx...
United States >>  1/28/2020 - Hess announced a 2020 Exploration & Production capital and exploratory budget of $3.0 billion, of which more than 80% will be allocated to high return...

Nigeria >>  1/23/2020 - ADM Energy PLC, an oil and gas investing company quoted on AIM, provides a strategy update for 2020 and beyond. ...
Iran >>  4/20/2015 - Two British companies are gathering information about how to invest in Iran, managing-director of Iran Industries Investment Company said. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.