Talks under way with Europeans to Develop One of the largest Petrochemical plants in Iran

TEHRAN, (Shana) – Managing director of one of the largest petrochemical plants in Iran said negotiations are on the go with European partners for carrying out development projects at the plant. 

Speaking with Shana, he said given the changing circumstances in the post-sanctions setting, we have started talks with petrochemical companies from different European countries for developing the plant's upstream, midstream and downstream project since last year.

He mentioned that the plant produced at 97% of its nameplate capacity last calendar year (ended March 19) and had nearly 40% of its output exported for foreign markets. 

This Petrochemical Plant is regarded as one of the world's biggest olefin plants with an annual production capacity of 1.1 million metric tons.