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Media: Iran ready to compete with S. Arabia in petchem sector

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/04/2016 (19:33)
According to media reports, the Managing Director of Iran’s National Petrochemical Company (NPC), Marzieh Shah-Daei, stated that they are seeking to develop Iran’s petrochemical industry by attracting foreign investment and completing unfinished projects following the removal of sanctions, adding that Iran is ready to compete with its rival Saudi Arabia in terms of petrochemical capacities.

10 new petrochemical complexes will be started up in the current Iranian year, which is expected to increase country’s production capacity by 7 million tons. Iran is currently in talks with Asian and European investors to provide financial support for the construction of new petrochemical projects.

France’s Total and Iran’s National Petrochemical Company (NPC) signed a memorandum of understanding (MOU) for the construction of a major petrochemical complex in Iran. Shah-Daei also reported that they are expecting to sign contracts with three German companies soon.
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