TEHRAN – India’s Sab Industries Company has withdrawn from taking part in Iran’s Lavan Petrochemical Complex project due to uncertain reasons.

Negotiations are underway to transfer the Indian company’s 53-percent share to the domestic private sector, Mehr news agency reported.
The Lavan petrochemical project aims at annually producing 1.035 million tons of urea and ammoniac. Annually, some 657 million cubic meters of gas from giant South Pars gas field is projected to be fed to the petrochemical complex.