Managing Director of Iran International Petrochemical Company Isa Mashayekhi, addressing a specialized panel meeting at the 12th Iran Petrochemical Forum (IPF2015) in Tehran on Monday, said the rate of return on investment (ROI) in Iran's petrochemical projects makes the country more luring for potential investors.
He said the post-sanctions Iran enjoys massive investment potentialities which are just apt for new investments.
Mashayekhi who was also representing the Persian Gulf Holding Company (PGHC) at IPF said the company holds some $16.2bn worth of assets and is one of Iran's leading private companies which is operating numerous major petrochemical projects.
PGHC also owns 10% of shares in Iran's stock exchange making it one of the most influential companies in the market.
The company's output accounts for 45% of Iran's annual petrochemical production, he added, saying that PGHC's subsidiaries supply 24.6 million metric tons/y of petrochemical items which are sold on domestic and foreign markets.
Furthermore, he added, PGHC needs an investment of $15bn in its projects to materialize its plans and is hunting out potential investors.
Iran has 67 half-finished petrochemical projects up for grabs with 20 to 90% physical progress which are planned to come on-stream based on a schedule, he added.
Some 97 foreign companies from 25 countries have participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.
More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherland, Russia, and US are taking part in the event.
Participants in the IPF2015, one of the worlds most prestigious events representing the petrochemical industry, are discussing the core issues that the industry is facing with the emphasis given to Iran.
By SHANA
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