China to invest $3.6bn in Masjed Soleyman refinery

News ID: 3907889 -
TEHRAN, Feb. 15 (MNA) – An contract worth 3.6 billion dollars was inked between Iran and China for investment in Masjed Soleyman Petrochemical Industries Co. (MIS).

Three Memoranda of Understanding (MoUs) were sealed between Iran and Austria, the Netherlands and China at presence of Minister of Cooperatives, Labour and social welfare Ali Rabiei.

Accordingly, one contract for investment was signed between Masjed Soleyman Petrochemical Industries Company and Wuhan Company of China.

The agreement, with a value of 3.6 billion dollars was inked by Managing Director of Masjed Soleyman Petrochemical Complex Yousef Davoodi and representative of the Chinese firm.

Also, a different agreement for joint production in food industries, including energy juices, cheese and dairy, was endorsed between Iran and an Austrian company.

During the ceremony, Iran Dairy Industries Co. (IDIC) and Dutch Barns countersigned an MoU in a bid to develop investment markets and raw material supply.

Furthermore, an investment deal was formed between IDCD and Hollander Company of the Netherlands and Istar Electronics Company for production of infant formula.

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