Talks with foreign investors underway: NPC official

TEHRAN, May 20 (MNA) – The managing director of investment department of the National Petrochemical Company (NPC) informed that negotiations with foreign investors are going on to ease implementation of petrochemical projects in Iran.

According to Hossein Alimorad, foreign companies, specifically those Asian ones, are inclined to cooperate with Iran despite all the propaganda and US withdrawal from JCPOA, thanks to the advantages of Iranian petrochemical industry.

He also informed of an investing consortium with which negotiations are being conducted to launch cooperation.

He did not name the consortium but added that it seeks making investments in Iranian petrochemical projects and has also asked Iran to accelerate the procedure of its cooperation.

“The consortium has its own mechanism to remove the existing barriers,” he added.

Petrochemical industry in Iran is the economic doctrine of the country and if development and expansion of petrochemical units is taken into consideration in the country, it will help generate more employment opportunities and boom economy in the country considerably.

Iran’s Deputy Oil Minister for Petrochemical Affairs Behzad Mohammadi said earlier in March that Iranian petrochemical industry is ‘unsanctionable’, a Working Group has been set up in the NPC, with the assistance of domestic holdings, to manage the potential risks to be posed by US unilateral sanctions.

As planned, Iran's production of petrochemical products will grow up by 70 percent until 2021, and production capacity of this industry and also revenues of the country in this sector will experience a 46 percent growth by 2021.

HJ/ 4621330

News Code 145499

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