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IRAN: Joint venture construction contract award for long-stalled $322,000,000 ethylene plant...

PROJECT OVERVIEW:

A contract to build an ethylene plant was awarded to a French/Iranian joint venture in March 2001. However, the project was delayed up until now because of funding problems. In any case, project financing has now been finalized with a banking consortium led by CREDIT AGRICOLE INDOSUEZ of France. As a result, the project will be funded by export credits coming from France, the Netherlands, Italy and Spain.

The partners in the planned undertaking include TECHNIP-COFLEXIP of France and the local NARGAN in which the French company recently

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