Bloomberg News

Iranian Lavan Chemicals Complex Needs $20 Billion, Report Says

December 28, 2011

Dec. 28 (Bloomberg) -- The construction of a petrochemicals complex on Iran’s Lavan Island would require $20 billion in investment, the Islamic Republic News Agency reported, citing an official at Iranian Offshore Oil Co.

A single petrochemicals plant on Lavan would cost $5 billion, Mahmoud Zirakchianzadeh, the company’s managing director, told the official news agency.

Iranian offshore awarded a $1.9 billion contract to Sepehr Energy Co. to develop the Lavan gas field and build a chemicals complex on the island, state-run Mehr reported yesterday.

--Editors: Rachel Graham, Torrey Clark

To contact the reporter on this story: Ayesha Daya at adaya1@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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