Siemens in talks with Iran for petrochemical investments
It was reported that Siemens had already launched negotiations with Iran’s Ministry of Petroleum to invest in some petrochemical projects. The company will be providing advanced technology and relevant technical and management solutions for these projects.
The German company maintained its business in Iran even during sanctions while most of the foreign companies preferred to end their activities. It mainly provided engineering services as well as technical parts for Iran’s gas projects.
The company has recently signed a memorandum of understanding (MOU) on rail infrastructure and gas equipment projects as well as an energy agreement with Iranian power and infrastructure group MAPNA.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months
- Thai PP, PE markets subdued by slowing economy, competitive imports
- Vietnam’s PE market extends losses into June on frail demand
- Asian spot naphtha prices pull back from multi-month highs