Post-sanctions Iran key player in 2016 petchem market

TEHRAN, Dec. 14 (Shana) – Editorial Director of the Business Year journal said an Iran relieved of sanctions will be a major player in the regional petrochemical market in 2016.

Addressing a specialized panel at the 12th Iran Petrochemical Forum here in Tehran on Monday, Christopher Copper spoke about investing in Iran’s petrochemical Industry in the post-Sanction era.
Underlining the massive developments in the regional petrochemical market after Iran is set free of the sanctions, the senior British business journalist said he was astounded to see so Iran have changed so much which herald a promising future for the country’s petrochemical sector.

He said his journal is planning to investigate investment opportunities in Iran’s petrochemical sector and publish a number of articles on the industry’s status in the country, and added that the journal provided the latest business opportunities to its readers which include the post-sanction Iran.
He said the economic future of Iran is definitely hinged upon the oil and gas industries, and added that the country is poised to become a major regional petrochemical player given the wide range of its produced items.

A market of over 80 million people, educated labor, access to Asian markets and abundant feedstock supplies are some of the features that make investment in Iran’s petchem sector justifiable.
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 world’s most prestigious events representing the petrochemical industry, are discussing the core issues that the industry is facing with the emphasis given to Iran.
The IAEA Board of Governors will vote to close the PMD file on Tehran’s nuclear program on December 15. This will clear the way for implementation of the JCPOA.

By SHANA