World Petchem Leaders Keen on Investment in Iran: Official

(Wednesday, January 11, 2017) 02:26

TEHRAN (NIPNA) -- The world’s leading petrochemical heavyweights are keen on investment in Iran’s petrochemical sector, a senior official with the National Petrochemical Company (NPC) says.


Hossein Alimorad, director of investment at NPC, told NIPNA that leading petrochemical companies have signaled readiness to joint petrochemical projects in Iran. 

He said many companies from Europe, Japan and Korea have so far inked memorandum of understandings (MoUs) with the NPC for partnership in petrochemical projects in Iran recently.

He said since the Joint Comprehensive Plan of Action (JCPOA) implementation, the NPC has received many requests from leading petrochemical companies for cooperation in the industry and has so far signed a number of deals and MoUs. 

“We have in some sense experienced a jump in the presence of foreign companies in Iran since the JCPOA implementation,” Alimorad said. 

Iran and the P5+1 group of countries struck a landmark deal back in 2015 in Vienna that is known as the JCPOA which limits Tehran’s nuclear activities in exchange for removal of US-led international sanctions. The deal was implementation in January 2016. 

He said during the post-JCPOA implementation era, many companies with the latest technologies stepped forward to join petrochemical projects in Iran. 

Iranian petrochemical plants can supply 64 million tons of petrochemicals annually but the capacity is estimated to cross 100 mt/y within the next 5 years. 

The country is also planning to more than triple its petrochemical output and bring it to 180 mt/y by 2025. 

لوگو- نیپنا

National Petrochemical Company