Swiss Firm Returning to Iran’s Petrochem Market

Swiss Firm Returning to Iran’s Petrochem Market
Swiss Firm Returning to Iran’s Petrochem Market

Sulzer, a Swiss engineering company, is keen to return to Iran’s petrochemical industry, a senior official at the company said.

Torsten Wintergerste referred to the company’s close relations with Iran before the imposition of sanctions and said Sulzer is ready to cooperate in the Persian Gulf country’s petrochemical sector now that sanctions are lifted, Shana reported.

The Swiss official was speaking in a meeting with Marzieh Shahdaei, managing director of National Petrochemical Company, on Monday.

Founded in 1775, Sulzer is a Swiss industrial engineering and manufacturing firm. It holds leading positions in its key markets: oil, gas, power and water. Sulzer offers solutions for performance-critical applications.

Wintergerste announced that Sulzer has started cooperation with two unnamed Iranian companies.

“With regard to the high ability of Sulzer, we can transfer modern technology to help Iran implement petrochemical plans,” he said.

The official noted that the company can collaborate with Iran in issuing licenses and also produce polystyrene, polycarbonate and some polymers.

Shahdaei, who is also oil minister’s deputy for petrochemical affairs, said, “NPC fully supports foreign investment in Iran’s upstream and downstream petrochemical industry with the aim of completing the value chain of the sector.”

She added that foreign companies can be present in Iran on condition that they transfer state-of-the-art technology to domestic companies.

Nominal petrochemical production capacity stands at 60 million tons a year, but plans call for doubling the volume by 2021 and raising the output to an ambitious 180 million tons a year by 2025.