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Iran, Germany agree on petrochemical finance repayment

Business Materials 3 November 2015 08:04 (UTC +04:00)
Iran has come to terms with Germany on the method of repaying finance for petrochemical projects.
Iran, Germany agree on petrochemical finance repayment

Baku, Azerbaijan, Nov. 3

By Fatih Karimov - Trend:

Iran has come to terms with Germany on the method of repaying finance for petrochemical projects.

Issa Mashayekhi, managing director of Petrochemical Commercial Company International, said that "more than any other country, we have come to terms with Germany on the method of repaying finance."

In addition to political situation change, moderation of economic situation will be effective on attracting new investments, Shana news agency quoted Mashayekhi as saying on October 31.

For the time being, a certain situation for finance cannot be predicted, he noted.

Earlier, Amir-Hossein Fallah, an official with the National Petrochemical Company of Iran, said that German and Japanese companies are more determined to reenter the Iranian market than companies from other countries.

Marzieh Shahedaee, director of projects at the National Petrochemical Company of Iran, said on October 27 that some petrochemical companies are receiving finance from Germany and Spain. She added that foreign investors are waiting for lifting of sanctions against the country.

CEO of the National Iranian Petrochemical Company Abbas Sheri Moqaddam said in April that some $30 billion of investment opportunities have been identified in Iran's petrochemical sector, which will be certainly welcomed by European and Asian investors after the sanctions against the country are lifted.

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