TEHRAN, Apr. 12 (MNA) � Deputy oil minister has announced Iran�s readiness to launch a new rivalry with Saudi Arabia over the expansion of petrochemical industries in the post-sanctions era.


Managing Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei described policies for development of Iran�s petrochemical industry in the new Iranian year (Began March 20); �the most major goals pursued in this regard include science and technology transfer, attracting foreign investment, completion and implementation of semi-finished petrochemical projects.�

Shah-Daei announced that ten new petrochemical complexes will become operational in the current year adding about seven million tons to the country�s production capacity.

The official pointed to implementation of a number projects asserting �in time with the operation of ongoing plans, conduction of negotiations with Asian and European investors for absorbing credit and financial resources has been put on the agenda.�

She pointed to the existence of 55 semi-finished petrochemical projects all around the country stating �moreover, a total of 28 new petrochemical projects will get defined and operational aiming to diversify the production basket.�

NPC managing director further touched upon the conducted talks with France�s Total for construction of a huge petrochemical project in the country; �initial agreement has been reached between the two sides while a delegation of the European company will soon travel to Tehran to finalize the negotiations.�

She also reported on various talks held with German firms for making investments in the Iranian petrochemical industry saying �talks with three German companies are in final stages as new contracts are expected to be sealed in near future.�

In response to a question about the rivalry with Saudi Arabia as Iran�s major challenger in petrochemical industries of the region, Shah-Daei reiterated �Iran�s petrochemical industry enjoys numerous investment advantages over that of the Saudis including diversity of natural gas and liquid feeds.�

The official emphasized that none of Arab countries of the Persian Gulf possesses these features; �the diversity leads to foreign investors� willingness to cooperate in new Iranian projects in the field.�

�Attraction of $8 billion�investment for the petrochemical industries has been placed�high on the agenda,� highlighted NPC managing director stressing �so far, numerous plans have been defined and presented for attraction of foreign investment.�

She also referred to the 11th International Exhibition of Plastics, Rubber, Relevant Machinery and Equipments also known to be held from 13th April to the 17th April 2016�in Tehran as Iran Plast asserting �the attendance of more than 900 Iranian and foreign firms from 25 world countries including 13 European, 10 Asian and two African countries as well as Australia has so far become finalized.�

�A total of 200 foreign traders and businessmen from 19 countries have travelled to Iran in order to sign contracts for purchasing new petrochemical and polymer products,� noted the official adding �foreign countries have welcomed the holding of the exhibition in view of sanctions removal.�

Marzieh Shah-Daei announced the presence of countries like Germany, Austria, Italy, France, England, Spain, Czech Republic, Switzerland, Netherlands, Denmark, Poland, Russia, Belgium, China, South Korea, Taiwan, India, Singapore, Turkey, UAE, Iraq, Bahrain, Pakistan, Australia and South Africa in the exhibition which aims to further develop the petrochemical industry and diversify the production basket of Polymer and Petrochemical goods in Iran.

Iran Plast is the most important exhibition in the field of petrochemical products and industries and one of the biggest and most important ones in the Asia, especially in the Middle East and Persian Gulf region.

By Mehr News Agency