TEHRAN Sep. 2 (Shana)--Iran’s Bank of Industry and Mine is contributing 289 million euros to a petrochemical plant in western Iran, the bank’s manager said.
 Ali Ashraf-Afkhami said the bank is investing in the second phase of Ilam Petrochemical Plant.


“The Bank of Industry and Mine is seeking to broaden its activities for investment in Iran’s petrochemical industry,” he said.

The official said the bank has so far invested 232 million euos and 233 million euros respectively in Lorestan and Mahabad petrochemical plants.

Ashraf-Afkhami said the Bank of Industry and Mine plans to invest in five petrochemical development projects for methanol production, including 240 million euros in Assaluyeh.  

He said the bank has invested 550 million dollars plus IRR 18 billion in 18 projects during the first five months of the current calendar year which started on March 21.

He said that 40 more projects, valued at 950 million dollars, are expected to come on-stream by next March.

By SHANA

 

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