Europe to build petrochemical plant in Iran
Iranian and European companies signed a multibillion-euro contract to build a petrochemical plant in the Assalouyeh region of southern Iran.
Fars News Agency quoted the CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) Adel Nejadsalim as saying on Tuesday, "The contract is valued at €3 billion and it will be spent on building two types of polymers for the first time in Iran."
He underlined that the two types of polymers will meet international standards.
"Currently, the implementation process of the joint petrochemical project is undergoing feasibility studies phase and further details about the type of partnership with the European company, production capacity and etc., will be announced following the completion of the negotiations," Nejadsalim added.
Iran expects to draw $10 billion in foreign investments for petrochemical projects.
In relevant remarks in late April, Iran's Deputy Oil Minister Amirhossein Zamani-Nia said that a number of German companies have voiced their willingness to help Iran implement its petrochemical projects.
"Germany's Linde Group is ready to make direct investment in the Iranian petrochemical industry," Zamani-Nia said.
Pointing to the talks between the Oil Ministry and the directors of Linde Group on the sidelines of the 13th International Iran Petrochemical Forum (IPF 2017), he said, "The German firm is eager to join hands with Iran in several petrochemical projects."
He reiterated that the financing Iran's petrochemical projects by Linde Group is under investigation, and said, "Despite the caution being exercised by European banks for presence in Iran, Germans believe that solutions are abundant to financing of projects."
Zamani-Nia also said that Linde directors had also met Oil Minister Bijan Namdar Zanganeh on the sidelines of the forum and voiced readiness to undertake LNG projects in Iran.
Meanwhile, Linde representatives also expressed willingness to transfer technical knowledge to Iran, and said that final agreements with Iranian petrochemical firms will be reached soon.