TEHRAN, Feb. 16 (Shana) � Managing Director of Iran�s National Petrochemical Company (NPC) Marziyeh Shahdaei said that negotiations with the German chemical producer BASF over multi-billion dollar investment in Iran�s petchem industry are not finalized yet.

�Talks are underway and none of the issues have been concluded so far,� she told Shana when asked about media reports suggesting BASF�s plans to invest 4 billion dollars in Iran.

Last December, NPC Deputy Managing Director Mohammad Hassan Peyvandi also said the Iranian firm is in negotiations with the major German chemical producer for a giant joint investment project.

By SHANA