Italy's Fiat in talks with Iran for petchem plants

According to media reports, Italian investors from Italy’s Fiat Automobiles S.p.A. are in talks with officials of Iranian petrochemical companies for the construction and development of Iranian petrochemical plants. The parties are planning to set up a long-term bilateral cooperation to make investments in Iran’s oil and petrochemical companies through large-scale European banks.

Two years ago, Iran started negotiations with European polymer and petrochemicals companies to construct and develop petrochemical sites in Iran. Referring to Jam Petrochemical Company’s proposal for investment in propylene units, Fiat’s officials said, “Iran’s offers will be analyzed and implemented in the shortest possible time and final agreements will be hopefully reached via further negotiations.”