Denmark, Portugal Ready to Invest in Iran's Petrochemical Industry

TEHRAN (FNA)- The visits by Germany's major firm managers and representatives to Iran to invest in the country's petrochemical industry have persuaded their Danish and Portuguese counterparts to seize the opportunity.

After Iran and the German BASF, a multi-national chemicals manufacturing corporation, held serious talks for cooperation following the July nuclear deal between Tehran and the world powers and easing of sanctions, investors from Denmark and Portugal also voiced interest in cooperation with the country.

The Haldor Topsoe company in Denmark which is a world leader in catalysis and surface science has underlined preparedness to resume cooperation in developmental projects and building a petrochemical unit in the phase 2 of the South Pars oil and gas field in the Southern city of Assalouyeh.

According to the Iranian foreign ministry officials, the Portuguese companies have also underlined their enthusiasm for presence in Iran's petrochemical and refinery projects.

Ever since the landmark deal Iran struck with world powers in Vienna over its nuclear program and the removal of US-led sanctions on its key economic sectors, Tehran is trying to position itself as a safe investment destination and dozens of high-profile delegations from all continents have made the trek to the country for securing deals in a race to win a bigger market share in a ban-free Iran.

Last week, Germany's Abels Decker Kuhfuß Lenzen (ADKL) won a contract for developing a major petrochemical project in Iran's southwestern city of Masjed Soleyman.

The German company struck the deal, worth €2b, on Thursday with Masjed Soleyman Petrochemical Industries Company (MSPIC). The contract's value can rise as high as €10 billion in the future.

The money will be invested in the first phase of a petrochemical project in Masjed Soleyman, said ADKL’s Bernd Lenzen after signing the deal.