TEHRAN, March 12 (Shana) -- Iran's National Petrochemical Company (NPC) and the French energy Giant, Total, have signed a memorandum of understanding (MoU) to build a petrochemical complex in Iran.

The MoU was signed during the visit of a high-profile delegation from Total to Iran last week.

Accordingly, Total has agreed to initiate appraisal studies for construction of the project in Iran.

The complex will include a steam-cracker unit that will be built in coastal regions based on the world's latest standards to be fed by ethane, naphtha, liquefied petroleum gas (LPG) and other liquid feedstock.

Once completed the complex will supply domestic and well as international markets with petrochemical products.

By SHANA