Iran in talks with foreign banks to finance petchem
Tehran, Iran, February 8
By Mehdi Sepahvand –- Trend:
Iran has been in talks with eight foreign banks to finance its petrochemical projects, National Petrochemical Company CEO Marzieh Shahdaei told a press conference.
According to Shahdaee, Iran has been holding talks with three German banks, four Japanese credit institutions, and a British-Danish bank over the past year.
Also, the German BASF’s $4.6 billion investment in Iran is currently under technical studies, Shahdaei said, Tasnim news agency reported February 8.
She also said Total and Shell have recently signed agreements with Iran and they are exploring the situations to invest in the Iranian petrochemical industry.
The country’s nominal petrochemical output is expected to hit 64.1 million tons by March. The real output will reach 51 million tons by then.
Iran’s annual petrochemical export is expected to reach 20.2 million tons by the said time. However, the value of the export is calculated to stand at 9.5 billion, 21 percent lower than that achieved four years earlier due to plunging global oil prices.