Tecnimont inks 1 billion euro Iran deal

Italy’s engineering company Maire Tecnimont has signed a collaboration agreement worth 1 billion euros for construction of refineries and petrochemical plants in Iran, a news agency says.

The agreement signed with the Persian Gulf Petrochemical Industries Co. (PGPIC) includes providing finance, parts and equipment, as well as solutions to Iran's processing issues, Mehr said Monday.

“Italy is seeking to open a new chapter in its cooperation with Iran, especially in the oil and petrochemical industries,” it quoted Maire Tecnimont CEO Pierroberto Folgiero as saying on the sidelines of a signing ceremony in Tehran.

According to Mehr, the Italian company will help Iran build an acrylonitrile butadiene styrene (ABS) and rubber plant in the industrial city of Asaluyeh.