Iranian holding to invest $2.5B in Georgia

By  Trend

An Iranian holding is going to invest $2.5 billion in downstream hydrocarbon projects in Georgia.

The investment will be carried out by Iran’s PCCI and Georgia’s Freiona Commerce and launching a company under the name Geopars, Tasnim news agency reported October 2.

The parties will share 50 percent of the project each. Their cooperation will include building a factory for the production of 10 thousand bpd of bitumen, a refinery with an output of 100 thousand bpd, a petrochemical unit for the production of polypropylene and other olefins, and a logistics center for the transportation of the products thereby made.