Japan, South Korea to Finance Petrochemical Projects in Iran

Iran's Petrochemical Commercial Company International (PCCI) is in talks with investors from Japan and South Korea for an investment of €520 million in petrochemical projects in Iran.

Managing Director of PCCI, a subsidiary of Persian Gulf Petrochemical Industries Company (PGPIC), Isa Mashayekhi told Shana that Iran's Ministry of Economy and Finance should provide state guarantees with the supervision of the Central Bank of Iran for PGPIC to access credit lines from other countries alike Japan and South Korea.

He said a Korean credit line valued at €13b is available for Iran and the Japanese credit line, valued at €10 billion, will become available or Iran in the month of August 2017, Shana reported.

PCCI is in charge of holding talks with international companies for financing petrochemical projects and attracting investments for PGPIC projects.