Time Ripe to Venture Into Iran's Petrochem Sector

Time Ripe to Venture Into Iran's Petrochem SectorTime Ripe to Venture Into Iran's Petrochem Sector

Eduardo Neto, Roland Berger's chief of Middle East centers, said Iran will make remarkable progress in petrochemical industry compared to its regional neighbors, provided it cooperates with global players and foreign investors.

"With a focus on developing downstream industries, Iran can play an effective role in the world's petrochemical markets by 2030," the German company's representative told Shana, adding that to develop its downstream industries, the Persian Gulf country has no way but to employ modern technologies and finance.

The Belgian Gheys's deputy for business development then said the company is in talks with Iran for increasing the Persian Gulf country's petrochemical exports, IRNA reported.

"In view of Gheys's experience in package and export of petrochemicals, especially materials used in plastic production such as polypropylene, we estimate Iran can raise production for a good market awaiting in the coming years," Gary Reinders said, adding that Gheys will return to Iran in April to attend Iran Plast 2016.  

Jean-Paul Legere, the French Technip's deputy CEO, said it is an appropriate time to venture into the Iranian petrochemical industry, especially in ethylene production. Iran has employed French knowhow in implementing projects of Arya Sasol Polymer Company and Jam Petrochemical Company, both in Asaluyeh in Bushehr Province, according to the French Official.

"To make advancements over the next 10 years, Russia will need to import Iranian petrochemical products," Vadim Konakof, the Russian SINIKON's managing director, said.

Stressing that at present Russia is experiencing an economic crisis, particularly in petrochemical industry, he said modernizing infrastructure in economic sectors can increase demand for petrochemicals in Russia.