Italy's Fiat to build petchem plants in Iran

TEHRAN, Oct. 19 (MNA) – An Italian delegation led by a top official of Italy’s Fiat has begun talks with Iranian firms to participate in construction and development of Iranian petrochemical industries.

A group of Italian investors headed by one of the main shareholders of Fiat Automobiles S.p.A. Ernesto Paulio arrived in the Iranian city of Asaluyeh to negotiate with officials of Iranian petrochemical companies. The Italian delegation has begun talks with a number of major companies in Assaluyeh and made visits to some petrochemical units in the southern Iranian city.

The visiting Italians aim to investigate venues for investment in Iran’s oil and petrochemical industries through large-scale European banks.

Ernesto Paulio, who is also a member of the board of directors at Inter Milan Football club expressed readiness to take advantage of major European banks for making investments in Iran’s petchem industries in order to launch a long-term bilateral cooperation.

The official welcomed Iran’s proposal for investment in PHD and propylene units of Jam Petrochemical Company asserting “Iran’s offers will be analyzed and implemented in the shortest possible time and final agreements will be hopefully reached via further negotiations.”

Approximately two years ago, with the visit of Pierroberto Folgiero, CEO of Maire Tecnimont to Tehran, Iran kicked off the new round of talks with this polymer and petrochemicals giant for the construction of one of the Middle East’s biggest petrochemical parks in Asaluyeh, Bushehr Province.

Apart from Tecnimont, negotiations have been also made with Eni of Italy for investment and construction of Pars (Shiraz) Condensate Refinery with a daily capacity of 120 thousand barrels.


News Code 120647


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