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IRAN: Joint venture $240,000,000 engineering and procurement award for construction of planned...

PROJECT OVERVIEW:

A Japanese/Iranian joint venture was recently awarded a technical services contract regarding the construction of an ammonia/urea complex in Iran. The partners in the planned undertaking include Japan-based TOYO ENGINEERING CO. (TEC) and CHIYODA CORP. in conjunction with the local PETROCHEMICAL INDUSTRIES DEVELOPMENT MANAGEMENT CO. (PIDEMCO).

According to the terms of the $240,000,000 award, the partnership will be responsible for the provision of engineering and procurement services. Construction plans call for building a complex will ins

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