Iran poised for petchem boom

TEHRAN August 01 (Shana)–Iran will see its petrochemical sector evolve in a revolutionary pace once Tehran’s nuclear deal with world powers is fully implemented and the western sanctions on Iran are lifted, a senior petrochemical official has says.

Marziyeh Shah-Daei, projects manager at National Petrochemical Company (NPC), said the unfinished petrochemical projects in Iran will soon be completed once the sanctions are lifted on Iran.
On July 14, Iran and the P5+1-Britain, the US, France, China, Russia and Germany – struck a nuclear deal capping 20 months of intensive talks.  Based on the agreement, Iran will dramatically limit its nuclear activities in exchange for the lifting of western sanctions.

She said Iran has already defined tens of major petrochemical projects which have been left on ice because of the lack of finances and licenses from leading foreign companies.
“Once nuclear deal between Iran and the P5+1 countries is implemented, we shall witness a petrochemical boom in Iran,” the top official said.

Shah-Daei further argued that the deal will ensure investment security in Iran and will boost partnership of foreign investors with Iran’s private sector companies in developing petrochemical projects.
“Certainly the deal will be a great influence on accelerating petrochemical projects in Iran,” she added.