Japanese giant may quit Iranian chemical project

The Japanese government paved the way for the giant Mitsui Industrial Group's possib le withdrawal from a multibillion-dollar petrochemical project in Iran because of heightened political tension there. It said it might pay export insurance to the group to cover losses if it decides to pull out of the troubled 50-50 joint venture -- Japan's biggest overseas deal ever.

Banking sources said the group might be able to withdraw from the project, stalled since the Iranian revolution began in 1979, if the government, which has invested in the project, agreed to pay insurance to cover $870 million of exports.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK