Oman to withdraw from petrochemical project in South Iran

29-Nov-11
Oman will withdraw from a project to build a petrochemical plant in southern Iran, as per Mehr news agency. Oman refused to continue with the project after a dispute about the price of raw materials, and the decision was not triggered by the imposition of international sanctions against Iran. The deal to construct the plant in the southern port town of Assaluyeh, was signed between the two countries in 2009. The Hormuz plant, which requires an investment of US$500 mln has capacity to produce 1.6 mln tpa of ammonia and urea.
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