Official: Foreign firms eyeing investment in Iran’s petrochemical projects

FNA- Iranian Deputy Oil Minister for Petrochemical Affairs Marzieh Shahdaie underlined that a large number of foreign companies have shown interest in making investments in the country’s petrochemical projects.

“After Tehran and the six world powers reach a nuclear agreement in Vienna in July 2015,  a large number of investors from France, Germany, Japan, South Korea and the Netherlands came to Iran to invest in the petrochemical industry and ink agreements with the Iranian companies,” Shahdaie, also head of National Iranian Petrochemical Company (NIPC), said.

She said that development of Iran’s petrochemical industry tops NIPC’s agenda.

“There are currently 20 petrochemical factories in Mahshahr and 12 factories in Assalouyeh in the Southern part of the country as well as 18 others scattering across the country,” Shahdaie added.

She said that Iran’s annual petrochemical production capacity is 61.5 million tons.

In relevant remarks in early December, announced a one-fifth rise in Iran’s petrochemical production output in the current Iranian calendar year (started March 20).

“A satisfactory trend exists in the country’s petrochemical production and the output has experienced a 20 percent boost thanks to launching a number of new projects,” Shahdaie said.

She underlined resumption of cooperation by foreign licensors in several petrochemical complexes has contributed to the boost in production, adding , “Development plans in the country’s petrochemical industry are now deploying products to domestic and international markets.”

The Iranian deputy oil minister also noted that new proposals have been submitted for investment and construction of new petrochemical complexes in some free trade zones permits of which will be issued if eligibility of applicants is approved.

In early November, Shahdaie said Iran’s petrochemical production capacity will show 2.5- to three-fold rise in the next few years.