The National Development Fund of Iran has spent about $160 million on construction of a petrochemical facilitu in the Ardebil Province, as stated by MP Khagigkhatput Mansour, IRIB reports on Friday.
Construction of the facility started in 2006 during presidency of Mahmoud Ahmadinejad. The province received about $350 million of investments. The project was halted. Only 10% of it has been completed.
The petroleum facility will produce up to 1.1 million tons of carbamide and 600,000 tons of ammonie annually.
