Oman out of Iran's petchem project
Muscat, March 20, 2014
The National Iranian Petrochemical Company has cancelled a deal with Oman Oil Company to build the Hormoz urea and ammonia production unit, said a report.
The project in Assalouyeh, Southern Iran, has been transferred to an Iranian company, the Trend News Agency report said.
Iran and Oman signed a memorandum of understanding in August 2009 to jointly construct the unit and in February 2011, Iran set a two-month deadline for the Omani company to fulfill its obligations, it said.
The petrochemical unit was projected to annually produce around one million tons of ammonia and 650,000 tonnes of urea.