Iranian firms ink MoU for indigenizing petchem equipment

TEHRAN, Oct. 22 (MNA) – A Memorandum of Understanding (MoU), valued at €60 million, was signed between two Iranian firms for the development of petrochemical equipment.

The contract was signed between Iranian Offshore Engineering and Construction Company (IOEC) and Azar Ab Industries and Machine Sazi Arak companies on Tuesday in the presence of Minister of Industry, Mine and Trade Reza Rahmani.

The MoU aims at domestic manufacturing of petrochemical parts and equipment.

In the signing ceremony, Seyed Mohammad Hadavi, an official at the Ministry of Industry, Mine and Trade stressed the need for further development of domestic production, and urged responsible officials in Iran Chamber of Commerce (ICC) to cooperate with the Center in line with materializing relevant objectives.

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News Code 151479

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