Iran’s major petchem company eyes co-op with Germans
Tehran, Iran, Oct. 18
By Mehdi Sepahvand, Dalga Khatinoglu – Trend:
Iran’s biggest petrochemicals producer Persian Gulf Holding Company plans negotiations with German companies to attract investments, high technology and boost cooperation, Adel Nejad-Salim, managing director of the company, told Trend Oct. 18.
Persian Gulf Holding Company was the first Iranian petrochemical company to sign a usance payment facility, amounting to 320 million euros with a foreign company after elimination of sanctions on Iran in January 2016.
The company and Japan’s Marubeni signed the deal in September.
The company eyes $1 billion usance payment facility deals with foreigners by March 21, 2017, said Nejad-Salim.
Iran has started negotiations with Germany’s Siemens, BASF and Linde to boost cooperation in petrochemical sector.
Iran needs $52 billion investment to increase the petrochemical products output from the current 60 million tons per year (mt/y) to 130 mt/y by 2021.
Nejad-Salim said the head of Iran’s National Petrochemical Company (NPC) Marzieh Shah-Daei is preparing to visit Germany on Oct. 20 and he would accompany her.
He said the Persian Gulf Holding Company is negotiating with foreign companies to attract several billion dollars investment in coming years.