Tehran, Iran, May 1
By Kamyar Eghbalnejad – Trend:
The managing director of Iran’s National Petrochemical Company said leading European suppliers and technology licensors for the petroleum refining and gas processing have expressed readiness to sign agreements with Iranian firms.
European licensors like UOP are eager to deliver their technology to Iran, said Reza Norouzzadeh, who also doubles as the Iranian oil minister’s deputy in petrochemical affairs, according to IRNA.
He further said that the 2015 nuclear deal between Tehran and world powers, known as the Joint Comprehensive Plan of Action (JCPOA), plays a key role in the sector of petro-chemistry.
Iran has increased petrochemical exports following the implementation of the mentioned international agreement.
According to reports, the country needs to attract some $55 billion worth of investment to develop its thriving petrochemical sector.
Iran’s nominal petrochemical production capacity stands at 73 million tons per year. The country hopes to bring the capacity to 120 million tons by 2020 and 160 million tons by 2025.
Earlier this month, Reza Norouzzadeh said that Iran’s petrochemical output is expected to reach 63 million tons during the current fiscal year (started March 20).
The official added that currently 60 petrochemical projects with nominal production capacity of 65.4 million tons are underway across the country.