Abbas Sheri Moqaddam

Awareness of feedstock price boosts investment

TEHRAN Sept 21 (Shana)–Managing director of the National Petrochemical Company (NPC) Abbas Sheri Moqaddam has said that setting long-term prices for natural gas and the related products will contribute to rising investment in petrochemical projects.

 NPC’s chief executive told Shana that investors are inclined to know about the changes of natural gas prices in the long run, so their awareness of the price changes will facilitate investment in the petrochemical sector.

Responding to a question on inadequate investment in petrochemical projects, Sheri Moqqadam said: “Despite the existing sanctions, a great number of domestic and foreign investors have expressed their willingness to invest in petrochemical projects which is expected to grow increasingly after removal of sanctions.

He said the European Union has put in place minimum requirements for the import of petrochemical products, so petrochemical exporting companies are expected to acquire necessary licenses for trade with the bloc.

He continued Iran’s private companies either should acquire these licenses or export their products through NPC.

According to NPC’s official, out of 60 million tons of production capacity in the petrochemical sector there are 20 million tons of idle capacity which should be activated through adequate planning and providing feedstock.

Sheri Moqqadam expressed hope that improving relations with the outside world will pave the way for attracting more investment in the petrochemical sector.

By SHANA

 

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