Economy [all categories]
Iranian Economy Council to Fund Petrochemical Project
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posted February 27, 2001 17:44
TEHRAN, Feb 26 Asia Pulse - In a meeting presided over by President Mohammad Khatami, Iran's Economy Council agreed to fund technology purchases for a plant to produce polyethylene terephthalate, the Management and Planning Organization (MPO) announced.
The plant will be established at the Special Petrochemical Industry Zone.
According to the MPO, the project will create 600 direct jobs and 1,100 indirect jobs (in the downstream sector).
In addition, the major economic policy making body decided to extend subsidies on milk powder (baby food). Distribution of milk powder will continue in line with a procedure to be adopted by Ministry of Health and
The council also agreed to keep on paying subsidies on fertilizers to help farmers.
The procedure for distribution of fertilizers will be drawn up by Ministry of Agriculture Jihad.
The Economy Council agreed to a proposal made by Ministry of Oil to develop gas fields in Fars province. The projects will produce sweet gas, liquefied gas and gas liquids, the MPO said.
All times are PT (US)
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