Abbas Sheri Moqaddam

NPC welcomes German firms in petchem sector

TEHRAN July 20 (Shana)–National Petrochemical Company (NPC) chief says investor firms from outside of Iran can fund petrochemical projects in the country.

Abbas Shari-Moqaddam is scheduled to meet with representatives of Germany’s Linde Group and BASF on Monday to explore avenues for enhancing cooperation in the petrochemical sector.
The two German firms are active in the petrochemical sector and are considered as leading producers of polymers, reformers and coldboxes, said the official.

Shari-Moqaddam underlined the former presence of the two companies in Iran before the western sanctions were imposed on Tehran.
According to Iran’s minister of petroleum, the country needs at least 70 billion dollars in investment in the petrochemical sector to complete its under-construction projects.

“National Petrochemical Company (NPC) has more than 100 defined projects waiting to be funded by foreign resources,” said Shari-Moqaddam.
Holding meetings with French and Dutch companies is also planned by NPC in the coming days.