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| Iran, Russia sign $1.5b petchem MOU |
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 TEHRAN - Iran and Russia have recently signed a $1.5 billion memorandum of understanding to construct a petrochemical complex in Assalouyeh, southern Iran.
The complex’s main products will be ammoniac and urea fertilizer, the Mehr News Agency reported, without giving any further details on the signing date and place.
“Russian companies are eager to invest in Iran’s oil and gas projects and that Russia will be a reliable partner for Iran in its oil and gas fields,” said Talyat Aliev, the deputy director of International Department of Russian Energy Ministry in June, Press TV reported.
“We are ready to expand our cooperation in Iran’s oil and gas fields by removing the obstacles,” Aliev said.
Iran, which is the world’s fourth largest oil producer, sits on the world’s second largest natural gas reserves after Russia.
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| Last Updated on 05 July 2011 16:17 |