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Iran welcomes cooperation with US companies in petchem sector: Official

Source: Press TV

Managing director of Iran's National Petrochemical Company (NPC) says the country welcomes cooperation with US companies in petrochemical sector considering that American petrochemical firms are also interested in working with Iran.

Managing director of Iran's National Petrochemical Company Abbas Sha'rimoqaddam (file photo)

Abbas Sha'rimoqaddam was quoted by Iranian media as saying on Tuesday that the NPC officials have already negotiated with a European company that has an American partner.

"Officials of the European company told us that their American partner had encouraged them to travel to Iran and start negotiations for possible cooperation," he added.

Noting that the American companies are willing to work with Iran's petrochemical industry, the official said, "We are also willing to cooperate with them because Americans have cutting-edge technology while their prices are more suitable" than other companies.

"Of course, we are not simply seeking technology transfer [through cooperation with foreign companies] unless they have a special technology, which is of particular significance to us," he said.

Sha'rimoqaddam stated that after the conclusion of Iran's nuclear talks with the P5+1 group of countries - the US, the UK, France, Germany, Russia and China - in Vienna on July 15, Italian, Dutch, German, Spanish, French, Indian, South Korean and Japanese delegations have visited the country indicating their readiness to work with Iran's petrochemical sector.

Iran has already announced that it is planning to boost its petrochemical output from the current figure of 60 million tonnes to 120 million tonnes during the Sixth Economic Development Plan with the ultimate goal of increasing the figure to 180 million tonnes by 2025.

The country needs USD 70 billion in new investment to achieve this goal, which should be supplied through annual attraction of USD 7 billion of investment.

... Payvand News - 09/02/15 ... --

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