Iranian, Japanese Firms Sign Polyethylene Deal

According to the terms of the deal, PGPIC, in cooperation with ITOCHU, will supply the international market with 11,000 tons of polyethylene on a monthly basis with a total value of $150 million, Shana reported on Sunday.

A polyethylene consignment has been already sent to the Japanese company for quality assessment.

The document was signed on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition underway in Tehran.

The International exhibition, also known as Iran Oil Show, kicked off in the Iranian capital on Saturday with more than 4,000 domestic and foreign companies showcasing their latest technical achievements.

Countries such as China, Germany, France, Italy, Spain, Turkey, Russia, Japan, the Netherlands, Austria, South Korea and Australia have their own pavilions in the Iran Oil Show.

Major foreign exhibitors include Wintershall Holding GmbH (Germany), Siemens (Germany), Lukoil (Russia), OMV (Austria), and ONGC (India).