NPC, Firms Ink MOUs for Building Petchem Units

NPC, Firms Ink MOUs for Building Petchem Units
(Tuesday, April 25, 2017) 23:08

TEHRAN (NIPNA) -- Iran’s National Petrochemical Company (NPC) signed several memoranda of understanding (MOUs) with leading energy and chemical companies during the Iran Petrochemical Forum in Tehran, NPC head said.

 

Speaking to reporters during the IPF on Saturday, Shahdaei said the companies include Royal Dutch Shell, Total and Sojitz. 

“Thanks to the removal of sanctions on Tehran, the forum got a wide reception by petrochemical investors and NPC has so far inked 4 major MOUs with international petrochemical heavyweights,” said the official.

Shahdaei, who is also deputy petroleum minister in petrochemical affairs, said major petrochemical holdings have also reached out for foreign partners during the forum and have entered into talks with them for knowledge transfer and investment. 

Asked how much the projects were valued, she said it was too soon to tell but said one of the companies has agreed to invest 4 to 6 billion dollars in a project while another one will finance at least $2.5b in Iran. 

Iran has defined dozens of projects that will need an investment of at least 40 billion dollars to complete. 

Once operational the projects will bring the country’s annual petrochemical output to 120 million tons in a period of 10 years. 
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