News in Brief
“Iran Project” exhibition opens in Ashgabat
A specialized exhibition of the achievements of Iranian companies, called “Iran Project,” opened in Turkmenistan’s capital on Friday.
The opening ceremony of the event was attended by Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash and Deputy Chairman of the Council of Ministers and Minister of Foreign Affairs of Turkmenistan Rasit Meredow, IRNA reported.
A total of 300 Iranian companies and businesses have attended the event where they have put their latest achievements on display.
The exhibition is aimed to give a boost to Iran’s exports, especially the exports of techno-engineering services, to Turkmenistan.
Meanwhile, Arash Kordi, the managing director of Iran Power Generation, Distribution and Transmission Company (Tavanir), told IRNA on Friday that Iran and Turkmenistan are scheduled to sign an agreement, which will allow Iran to receive more electricity from the northern neighbor, an official said.
“The agreement will be signed on Saturday during an Iran-Turkmenistan Joint Economic Cooperation Commission.”
He said that the agreement would require Turkmenistan to complete the electricity transfer project on its soil. Kordi added that Iran has already completed its own share of the project.
Noting that Iran’s biggest share of electricity imports comes from Turkmenistan, the Iranian official said that some 350-400 MW of electricity is imported from the Central Asian country.
NPC says $4.2b will be invested in self-sufficiency projects
Iran’s National Petrochemical Company (NPC) managing director on Thursday said $4.2 billion will be invested in domestic projects to attain self-sufficiency and complete the industry’s value chain.
Morteza Shahmirzaei added, “In addition to identifying opportunities and offering projects for investment, NPC has conducted a thorough study on the petrochemical industry’s value chain, launching 20 project packages for producing propylene, methanol, ethylene, aromatics, and butylene, Shana reported.
He put the projects’ annual nominal capacity and production value at 3.8 million tons and $4.4 billion.
Based on their access to necessary feedstock, domestic holdings have been informed of the projects, said Shahmirzaei, concluding some holdings have received permits for making investment in the projects.