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16. 10. 16
Created: 16 October 2016

According to director of Industry, Mine, and Trade Organization of Hemadan Province, Royal Dutch Shell has agreed to invest USD 350 million in Ibn Sina Petrochemical Complex in Hamadan.

Ibn Sina is a major petrochemical plant designed to produce 120,000 tons of ethylene oxide, 30,000 tons of ethanol amine and methyldiethanolmine, 50,000 tons of glycol ether and 80,000 tons of ethoxylates per year.

The plant has already received a USD 220 million loan from National Development Fund and the latest contract with Shell is expected to increase to progress of the project. 

shell that had left Iran because of the sanctions, continued to purchase Iran's crude during the period and in latest months signed a contract with National Iranian Petrochemical Company to invest in Iran's petrochemical projects. The know-how and investment by Shell is very welcome from the Iranian side and indicates the company's expectation of positive future for Iran's petrochemical industry.