Iran’s NPC, Royal Dutch Shell Sign Cooperation Document

News ID: 1209320 Service: Economy
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TEHRAN (Tasnim) – Iran’s National Petrochemical Company (NPC) and global oil giant Royal Dutch Shell signed a memorandum of understanding (MOU) for cooperation in the petrochemical industry.

The MoU was signed by NPC CEO Marzieh Shahdaei and Hans Nijkamp, the head of the department for Iran affairs at Royal Dutch Shell on Sunday, Shana reported.

Iran plans to expand its petrochemical output from the current level of 60 million tons to 160 million tons by 2025, Shahdaei said.

Hans Nijkamp, for his part said, "We believe that we can have joint projects in the petrochemical field with the National Petrochemical Company.”

There has been growing enthusiasm for ties and cooperation with Iran since a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) took effect on January 16.

The deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran and prepared the ground for a much-anticipated economic boom.

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