Financial Tribune- Talks are underway between Iran�s National Petrochemical Company and major Spanish consortium Sercobe to open a credit line to finance petrochemical projects in Iran, says the NPC�s head of financial affairs.

�A new round of negotiations that started in Tehran hinges on outlining the details of long-term cooperation in implementing and financing petrochemical joint ventures,� Hussein Alimorad was quoted as saying by Mehr News Agency.

Spain�s National Association of Manufacturers of Capital Goods,�known as Sercobe, represents more than�400 companies and special groups�in designing, engineering, production, maintenance, installation and recycling.

Attaching special importance to collaborating with international companies and winning their trust to invest in Iran�s fast growing petrochemical sector, Alimorad hope that �minor differences� with the Spanish group on how to undertake the projects are all but resolved and an agreement will soon be concluded.

�Sercobe has been in talks with the NPC on financing Damavand Petrochemical Complex that is Iran�s biggest provider of petrochemical industry services in Asalouyeh,� he said.

Marcel Riudavets Slangen, Sercobe�s export manager, has voiced the company�s readiness to fund the Damavand complex and expressed optimism that talks with the Iranian side will bear fruit.

Amir-Hassan Fallah, the NPC deputy for finance and investment, said Damavand Petrochemical Complex is in the process of privatization, asserting that the process is no� impediment to reaching an agreement with the Spanish side to expand the complex.

Danish Interest

According to Ahmad Mahdavi, secretary-general of the Association of Petrochemical Industry Corporations, Haldor Topsoe, one of the world�s leading catalysis companies, is also in cooperation talks with NPC.

The Danish company has expressed readiness to participate in Iranian petrochemical plans, namely urea, ammonia and methanol production projects.

Highlighting opportunities for partnership and investment in Iran�s resurging energy sector, Per K. Bakkerud, a senior Haldor Topsoe official, said the Danish firm is studying development plans in Iran.

Asked about a contract between Topsoe and a new methanol plant in the southern Iranian port city of Chabahar, Mahdavi said that the Danish firm will provide Badr-e-Shargh Petrochemical Complex, slated to go on stream in 2019-20, with its much-needed licenses, engineering, proprietary equipment, materials and catalysts.

According to reports, Iran wants to attract $72 billion in foreign investment for 80 major petrochemical projects in line with plans to triple petrochemical production within a decade.