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Iran Petrochem Deals on the Anvil

Petrochem Deals on the AnvilPetrochem Deals on the Anvil

Tehran is close to sealing new petrochemical deals with major European companies, a deputy oil minister said on Wednesday.

“Petrochemical negotiations with renowned international firms, especially Europeans such as France’s Total, Royal Dutch Shell as well as some German companies are well on track,” Amirhossein Zamaninia was also quoted as saying by NIPNA, the official news agency of National Petrochemical Company.  

“Talks revolve around the transfer of technology and investments in several petrochemical projects in Iran,” he added.

Stressing that foreign sides are eager to reach long-term contracts with Iran, he said technical, financial and legal terms are being studied that can help make the companies’ activities transparent in Iran’s most important industry after oil and gas.

Zamaninia referred to Iran’s advantages over its regional rivals in attracting foreign investment, including its strategic geographical position, abundance of gas feedstock and skilled workforce.  

Top executives of Germany’s Linde Group held a meeting with Zamaninia and NPC chief, Marzieh Shahdaei, in Tehran on Tuesday over joint petrochemical ventures.

According to NIPNA, the development of Damavand Petrochemical Plant, Kian Petrochemical Company and some methanol production plans was discussed.

The German company has also announced its terms and conditions for its presence in Iran.

Stressing the determination of Oil Ministry and NPC to support foreign investors, including Linde, Zamaninia said the time is ripe for Linde to enter Iran’s petrochemical market. 

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