Iran Seeks Foreign Investment for 25 Petchem Projects

Iran Seeks Foreign Investment for 25 Petchem Projects

TEHRAN (Tasnim) – Iran is seeking to encourage foreign investment to build 25 petrochemical projects, an official with Iran’s National Petrochemical Company (NPC) said.

The NPC is proposing joint or individual investor participation in building the projects, Farnaz Alavi, NPC’s director for planning and development said on Saturday, according to Shana.

Providing feedstock for five more projects was also being studied, she added.

Back in In July, Alavi had said that $32 billion in foreign investment was needed to build 28 petrochemical projects. The projects include factories to produce ammonia and urea, as well as gas-to-olefins (GTO) and gas-to-propylene (GTP) plants.

Iran has placed top priority on developing its business interactions with foreign companies since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.

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