No Chinese monopoly in Iran petchem sector with sanctions gone: Deputy minister

TEHRAN, Jan 29 (Shana) — Deputy Petroleum Minister in Petrochemical Affairs said now that international sanctions have been lifted on Iran, petrochemical companies will be more inclined to choose from foreign financiers who offer the best terms for cooperation and the Chinese companies can no longer dictate their will on them.

“Under the current circumstances and the removal of sanctions, petrochemical companies are more inclined towards cooperation with the foreign opposite numbers who table the best terms; this is no time for Chinese firms to impose their terms on Iran,” said Abbas Shari-Moqaddam, speaking on the sidelines of launching two major power turbines at Damavand Petrochemical Plant in Assaluyeh, south of Iran.

The managing director of National Petrochemical Company (NPC) said French and Italian chemical firms have voiced their readiness to finance and sign deals whit NPC for carrying out petrochemical projects in Iran.

He further said NPC supports projects that have already won finances, adding, “Projects with financial troubles will get to nowhere.”