A US$ 400 million deal has been signed by the National Petrochemical Company (NPC), a subsidiary to the Iranian Petroleum Ministry, for the construction of the central ethylene pipeline with the Kahatamolanbia Construction Headquarters (KCH), a Revolutionary Guards unit involved in several construction and energy projects.
KCH will undertake the project with Chinese investment in EPCF mode within 30 months.
The proposed pipeline will be able to annually transport 1.04 tons of ethylene from Parsian Refinery for further processing to five petrochemical complexes.
Rostam Ghassemi, Iran's new Oil Minister said that the negotiations for the contract had begun a year ago, when he was the head of KCH.
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