Iran and Singapore in US$1billion petrochemical deal

Iran and Singapore have signed a US$ 1 billion deal. The contract is for a 5 year advance sale by Iran of the byproducts of the aromatic 4th unit of the Assalouyeh project. The petrochemical production line is to be launched in Assalouyeh next year, and its by products ready for Singapore from 2006 to 2010. The Iran Petrochemical Commerce Company has made a total investment of US$30 billion during the Third, Fourth and Fifth Five-Year Economic Development Plans.
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