The deal, being signed after a year of negotiations, concerns development of a pentane project in Assaluyeh region, south of Iran, while the South Korean President is in Tehran for a landmark 3-day visit to the OPEC member.
The project is being carried out for production of 175,000 tons of pentane, a strategic item for production of petrochemical products.
The Korean Exim bank will finance the 19-month project, according to the deal.
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