Wednesday, August 27, 2008

Iran and Italy ink joint petrochemical venture

TEHRAN – The Italian WTD Company and Pars Petrochemical Company signed an MOU to establish a desalination system unit in Pars Special Economic Energy Zone of Persian Gulf borderlines.

The Italian company has made 220 million-euro worth of investments in Iran during the past decade, IRNA reported.

The managing director of the WTD Company announced that the company’s major contracts were in the forms of build-operate-transfer (BOT) and Build-Own-Operate (BOO).

In the signing ceremony of the joint venture, the Italian official said that WTD believes in Iran’s economic and political importance.

The MOU will be implemented starting next month and it is speculated to go on-stream within the next three years.

Adapted from: Tehran Times

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