Petrochemical industry majors to return to Iran

Tehran, Aug 9, IRNA – Deputy managing director of the National Petrochemical Company said famous international companies are after renewed presence in developmental projects of the Iranian petrochemical industry.

Mohammad Hassan Peyvandi further remarked that grounds have been prepared for the return of major petrochemical companies and powers of the world and it can be said that soon majors of this industry will return to Iran.
He said in recent months managers of creditable European and Asian companies have repeatedly announced their readiness officially to NPC for renewed presence in the country and in various meetings have stressed the existing capabilities in this Iranian industry.
He said companies such as Basf, Linde, Exence, Hyundai, Shell and a number of other companies are ready to cooperate for the realization of the second leap in Iran’s petrochemical industry and, “we welcome new investments in order to enable the petrochemicals to powerfully return to its real position and play its role in the economic development of the country.”
Stressing that it is hoped in the year 2025 more development projects will become operational, Peyvandi said combination of foreign investment with semi-finished projects enjoys specific importance and readiness should exist in all dimensions.
Referring to giant natural gas reserves in Iran, he said closeness and accessibility of feed of petrochemical units is one of the advantages of this industry in Iran.
However, he added, despite sanctions in the past years, petrochemical industry did not stop its activities and with the help of domestic specialists progress was achieved in the industry.