TEHRAN, May 11 (Shana) -- Iran plans to increase its annual polypropylene output to 500,000 tones, Managing Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei said.

She said that Iran's Council of Economy has licensed construction of a unit for production of 120,000 ton polypropylene from ethylene and “We plan to increase polypropylene production to 500,000 ton in cooperation with German Lurgi Corporation.”

After execution of Joint Comprehensive Plan Of Action, many well-known world companies have declared interest for investment and transfer of technology to Iran, the official noted.

She said that the foreign companies which attended the 21st International Oil, Gas, Refining and Petrochemical Exhibition of Iran – Iran Oil Show 2016 – raised 40 percent in compare to the exhibition held a year before.

Iran is in talk with foreign companies to absorb foreign investment and transfer technology, Shah-Daei added.

By SHANA