(MENAFN- Trend News Agency ) Baku, Azerbaijan, July 23
By Emil Ilgar – Trend:
Iran is preparing to sign contracts with French Total and Royal Dutch Shell on petrochemical projects, Marzieh Shahdaei, head of Iran's National Petrochemical Company, told IRNA.
The sides are negotiating the final issues to sign contracts, according to her.
Both Total and Shell have signed a memorandum of understanding (MoU) with Iran on Petrochemical sphere in 2016.
Shahdaei said that the worth of the contract with Total will be $2 billion. The worth of Shell's MoU with Iran is estimated at $6 billion.
Iran plans to attract $10 billion investment in petrochemical sphere in the current fiscal year. The country projected to double the petrochemical production capacity to 120 million tons per year by 2021.
Total and Iran earlier signed a 20-year contract worth $4.8 billion to develop South Pars gas fields' 11th phase.
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