Above 250 Spanish firms ready for joint venture in Iran petchem

TEHRAN Sept. 15 (Shana) – Representatives of Spanish companies in a meeting with Managing Director of the National Petrochemical Company (NPC) Abbass Shari-Moqaddam expressed the readiness of more than250 compatriot firms to have joint investments in Iran in the post-sanctions period.

“Spanish firms are eagerly hopeful that sanctions will be lifted as soon as possible so that they can take part in Iran’s petrochemical industry,” said Juan-Ramon Duran Puebla, Managing Director of SERCOBE (National Association of Manufacturers of Capital Goods).

Above 250 Spanish firms, he added, are interested in cooperating in Iranian petrochemical industry within the framework of an international investment consortium.

Duran said the consortium will enter into long-term contracts with Iran. “I think trade with Iran will be a success for us.”

The NPC managing director welcomed cooperation with Spanish investors and said participation in Iranian projects will have promising prospects for both sides.

“SERCOBE has established a positive activity record in Iran and NPC trusts the Spanish firm,” Shari-Moqaddam said at the meeting.

In the post-sanctions period, he said, the major companies which have gained Iran’s trust will be on top of the list to invest in the projects.

European countries are looking for lucrative investment opportunities in Iran that could be unlocked by the nuclear deal in the post-sanctions period.

The Spanish team said its members will take part in the upcoming Iran Petrochemical Forum in Tehran.

Petroleum Minister Bijan Zangeneh has said Spain is ready to re-export Iran’s gas to Europe via its LNG terminals which will be negotiated between Tehran and Madrid.

“Spain is interested in cooperating with Iran in the development of oil, gas, petrochemical, and refining fields as well as construction of equipment and energy optimization projects which are among our plans in the industry,” he said following a meeting last week with the visiting Spanish Industry, Energy and Tourism Minister Jose Manuel Soria.

Iran and Spain agreed to continue their cooperation, the minister added, saying that Iran welcomes investment of Spanish firms in its petrochemical industry. “We also proposed the Spanish side manufacturing of oil industry equipment in Iran,” Zangeneh told reporters.

Soria and a delegation of Spanish businesses held talks with their official Iranian counterparts as well as Iranian business people in Iran.

During the visit, Iran and Spain negotiated cooperation in the field of petrochemical products, an official in the National Petrochemical Company (NPC) said.

“During ministerial talks, it was agreed to produce petrochemical goods in Iran through cooperation between Iranian and Spanish firms,” NPC Deputy Managing Director Mohammad-Hassan Peyvandi said following the meeting between Zangeneh and Soria.

“Knowledge and capacity of Iranian firms have been totally transformed in the last 10 to 15 years. They have invested in industrial infrastructure and will no longer function as consumers of goods and technical knowledge, rather foreign firms have to produce their goods relying on our domestic capacities,” he added.

Also Director of International Relations at the Ministry of Petroleum Mohsen Qamsari told Shana that Iran has taken measures to regain its pre-sanctions crude oil exports of 200,000 barrels per day to Spain.

He said Iran intends to diversify its oil export markets after raising production by 500 thousand barrels which will include pre-sanctions European consumers as well as current Asian buyers.