Itochu Corp inks deal for monthly purchase of polyethylene with Irans' PGPIC

08-May-17

Japan’s Itochu Corporation signed a deal to purchase 11,000 tons of polyethylene per month from the Persian Gulf Petrochemical Industries Company (PGPIC), as per financialtribune.com.
The deal comes after the two sides signed a preliminary deal in December 2016, based on which Itochu agreed to lend €320 mln (US$341 mln) to PGPIC for infrastructure development, IRNA reported. An official added that polyethylene shipments will begin "within the next few months."