Indian company to build naphthalene, urea firms in Iran

Business Materials 27 May 2016 19:05

Tehran, Iran, May 27

By Mehdi Sepahvand - Trend:

Kesar Petroproducts Limited, an India-based company, intends to build naphthalene and urea firms in Iran, according to Kinesh Sharma, the company's CEO.

He said the decision for doing so comes from the fact that the Indian company's number one source of raw material is Iran, IRNA news agency reported May 27.

"We will soon present our proposal to Iran," he stated while in Tehran, accompanying an Indian economic and political delegation.

"Now that sanctions are lifted, we have come to make direct deals with Iranian companies," said Sharma.

Kesar Petroproducts Limited is the leading Indian producer of Phthalocyanine Blue BN.

The Indian delegation was led by Prime Minister Narendra Modi earlier this week. During the visit, Iran and India signed 12 MOUs in banking, ports, and trade.