The two petrochemical units, Masjed Soleiman Petrochemical Complex and Sabalan Methanol Unit, will convert methanol to propylene.
Fars News Agency cited National Petrochemical Company (NPC) deputy head Mohammad Hassan Peyvandi as saying that: "The letters of credit (LCs) for two petrochemical units each.
National Iranian Petrochemical Company managing director Abbas Sheri Moqaddam said earlier that Iran should invest $31b in order to complete 60 semi-finished petrochemical projects.
Moqaddam said:"To date, just $5 billion is estimated to be spent in the projects.
Upon completion, the projects would boost the country’s annual petrochemical output by 55 million tons.
"$74 billion is needed to expand the national petrochemical industry within next 8 to 10 years."
Chinese firms earlier unveiled its plan to invest €470m in the construction of Lordegan Petrochemical Complex, in southwestern Iran as well as to finance Bushehr, Hengam, and Gachsaran petrochemical projects, in southern and southwestern Iran.
Iran exports petrochemical products to more than 60 countries with main destinations being Far East, Central Asia, Southeast Asia and Africa.
