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Iran invites foreign petrochemical investors

Petrochemicals

Persian Gulf Petrochemical Industries Company (PGPIC) has invited Iranian and foreign investors for joint venture cooperation to carry out petrochemical projects

The invitation was announced at the 2nd Iranian Petroleum and Energy Club Congress & Exhibition (IEPC 2016) in Tehran by PGPIC managing director of Adel Nejad-Salim.

Welcoming financing by foreign investors and Iranian commercial institutions, Nejad-Salim said that Iran is now well prepared to welcome joint venture investment by the Iranian and foreign companies. He pointed out the country’s location on the seashore, its young experts and diversity in feedstock as advantages for investment in the petrochemical industry.

“Such projects as NGL 3200, Hengam, Hormuz, Apadana and Bid Boland are now in the commissioning stage, needing investment,” he added.

He also pointed out that the company is willing to attract investment and that there is possibility for cooperation with Iranian and foreign entrepreneurs in the form of shares of the active companies or the shares of the projects now commissioned as well as finance.He quoted the budget needed for commissioning of 15 projects as US$6.2bn; that of the engineering projects at four billion dollars and the projects under study at five billion dollars.

He noted that through production of diversified products and petrochemical feedstock, the investment basket can be made less risky.

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