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Siemens in talks with Iran for petrochemical investments

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/08/2016 (14:16)
According to media reports, Siemens has kicked off talks to invest in Iran’s petrochemical projects, a sign that the company looks for improving business activities in the petrochemical industry following the removal of sanctions.

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.
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