Baku, Azerbaijan, Feb. 1
By Fatih Karimov - Trend:
Russia may participate in Iran's petrochemical projects, located in the southern region of Assaluyeh.
Ali Mohammad Basaqzadeh, director for production control at the National Iranian Petrochemical Company, said Russian companies are willing to participate in Iran's petrochemical projects after the country was hit by international sanctions, Iran's Tasnim news agency reported on Feb. 1.
"In addition to exchanging technical and technological experience, the two countries will cooperate in procuring goods required for petrochemical projects," he said.
"We have introduced a set of plans to them and they are studying the plans," he noted.
It should be noted that Russian oil and gas company, RAO Rosneftegazstroy, has agreed to establish a petrochemical complex in Iran.
The agreement was signed by Iranian Oil Minister Bijan Namdar Zanganeh and Russian Energy Minister Alexander Novak at the end of the 11th meeting of Iran-Russia Joint Economic Cooperation Commission, which was held in Tehran on September 9, 2014.
Earlier, Basaqzadeh said Iran plans to increase its petrochemical production to more than 42 million metric tons by the end of the current Iranian calendar year next March.
"The country's petrochemical industry is currently running at 73 percent of its nominal capacity due to a number of problems, including a shortage of feedstock," he said.