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European companies willing to invest in Iran’s petchem industry

by ChemOrbis Editorial Team -
  • 27/04/2015 (13:53)
According to media reports, several companies from Germany, the Netherlands and Italy, some of which also have American partners, are in talks to invest in Iran’s petrochemical industry upon the removal of sanctions against the country. On April 2, Iran and the P5+1 powers (the US, France, Russia, China, the UK and Germany) reached a tentative deal in Lausanne, Switzerland regarding Iran’s nuclear program.

Given the expected easing of sanctions against Iran’s oil and petrochemical sector, many countries have stated their willingness to invest in Iran, according to the Iranian Association of Petrochemical Industry Corporations (AIPC). The country’s petrochemical sector could potentially attract investments of around $70 billion, according to AIPC.

Previously, India’s ONGC Videsh and Mangalore Refinery and Petrochemicals and officials of Iran’s National Petrochemical Company (NPC) began talks on building new petrochemical projects in Iran.
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