Japan’s Mitsui Engineering & Shipbuilding Company (MESC)was appointed in April as the engineering, procurement and construction (EPC) contractor for the Ilam HDPE project. MESC is working in partnership with the local Energy Industries Engineering & Design (EIED), the engineering arm of the local Oil Industries Engineering Company.

JBIC signed in April its first export credit facility with NPC, extending $192 million to finance the second ammonia urea project at Bandar Assaluyeh. A consortium of Japanese firms Toyo Corporationand Chiyoda Corporationwith the local Petrochemical Industries Design & Engineering Company (Pidec)was awarded the $240 million EPC in March.

The two export credit facilities are the first to be provided by JBIC without guarantee from the Iranian government.