Iran, China launch new petchem talks

TEHRAN, Apr. 25 (MNA) – A Chinese delegation has arrived in Tehran to start fresh round of negotiations on making investments in Iran’s petrochemical industries.

Following the signing of a 600-million-euro deal between Iran and China National Technical Import and Export Corporation (CNTIC), representatives of another Chinese company arrived in Iran to evaluate investment opportunities in Iran’s petrochemical industries.

Accordingly, a panel lead by the CEO of China Petroleum Engineering & Construction Corporation (CPECC) visited a number of petrochemical projects in Mahshahr Petrochemical Special Economic Zone (PETZONE) as Iran’s main petchem hub.

The Chinese delegation has initiated a course of negotiations with authorities of Iran’s petrochemical industries.

On the sidelines of the Chinese delegation’s visit, PETZONE Head Abdolreza Zargar expressed readiness to ink Engineering, Procurement, Construction and Financing (EPCF) contracts to develop middle-stream petrochemical industries or collaborate with Iranian companies on technology transfer.

Meanwhile, despite the fact that Chinese firms welcome investment in Iranian petrochemical industries in the post-sanction era, Managing Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei had recently deemed it less likely for more Chinese finance to open for Iranian projects.

On the other hand, Director of Planning at the National Petrochemical Company (NPC) Hamid Reza Rostami had previously reported on introduction of 21 new petrochemical plans to Chinese financers asserting “finance attraction aims to increase Iran’s petrochemical production capacity to more than 100 million tons per year.”

 

HA/3607431

 

News Code 116088

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