Italy to invest in Iranian petchem industry

Corradini said Iranian and Italian oil and gas industries share firm bonds as is testified by design of two refineries in Italy to use Iranian crude oil and it is the customer of National Iranian Oil Company (NIOC).
He said since when the Joint Comprehensive Plan of Action (JCPOA) has been implemented, tens of Italian economic activists have visited Iran in teams and regarding the attractions of Iranian oil and gas industries and the big market available for it, stronger cooperation is expected to come about between Iranian and Italian major companies, according to IRNA.
Also referring to attractions of investment of Italian companies in Iranian petrochemical industries, the diplomat said certain Italian investors had immediately after enforcement of the JCPOA imagined they can sell their products in Iran but gradually they realized that Iranian economy is thirsty of investment. 'Iranian petrochemical industry as a vanguard in economic growth is in dire need of investment and development.'
Corradini said beside investment in Iranian petrochemical industry, certain Italian companies are willing to invest in Iranian small- and medium-sized downstream oil and gas industries, expanding cooperation with the Iranian party in the field.
He added that Italy enjoys technology in the small- and medium-sized industries and Italian companies want to enter talks with Iranians for sale of equipment and investment in the industry.
Corradini said Italian companies are also capable of producing and mobilizing industrial machinery, willing to embark on renovation of certain Iranian oil industries and put industry machinery at the disposal of the Iranian party under special condition.
After Germany, Italy is the second major trade partner of Iran and it seems that cooperation between the two countries in petrochemical field will not be a hard accessible goal, said the diplomat, adding that Italian companies are able to help Iran with machinery and joint production.
To the end of his remarks, Corradini said Italian companies seek purchase of Iranian crude oil and wish transfer of money to Iran through certain small banks after implementation of the JCPOA.
He noted that Italian companies are also ready to mobilize Iranian refineries, trying to put their technical know-how at the disposal of Iranian party.