New US Sanctions No Effect On Iran's Petchem Industry - Official
TEHRAN, (Bernama) -- Director for Investment of National Petrochemical Company (NPC) Hossein Alimorad said new US sanctions against Iran had not stopped foreign firms from continuing to negotiate on investments in Iran's petrochemical industry, Iran's Mehr News Agency (MNA).
He said that the new restrictions had not affected Iran's talks with foreign companies willing to invest in the country's petrochemical industries.
The official said that for instance, a delegation from France's Total came to Tehran last week to finalise talks on direct investment in petchem arenas.
Talks were also held with several international companies, he said, adding that memoranda of understanding (MoUs) have been inked with firms like Britain's Royal-Dutch Shell, Total of France as well as BASF of Germany.
Alimorad estimated that further negotiations on MoUs will lead to signing final contracts on direct investment in Iran's petrochemical industries.
Jean-Jacques Mosconi, Head of Strategy at Total, visited Tehran last week to finalise three contracts to construct a 300,000-tonne petrochemical complex, develop South Pars Phase 11 as well as to expand Azadegan oilfield.