Foreign investors flooding into Iran after JCPOA: NPC Head

EghtesadOnline: Foreign investors are flooding into Iran after execution of Joint Comprehensive Plan Of Action (JCPOA), deputy Petroleum Minister and head of Iran's National Petrochemical Company (NPC) Marzieh Shahdaei said.

News ID: ۷۳۸۹۹۰

01 January 2017

She made the remarks Saturday evening in a forum on the prospect for petrochemistry in Iran which was held on the occasion of Petrochemistry Day.

According to IRNA, she said that after the JCPOA large number of investors from France, Germany, Japan, South Korea and Northlands came to Iran to invest in petrochemical industry and ink agreements with Iranian companies.

Saying that Iran enjoys good investors, she Shahdaei said 'We have good investors in Iran.'

The fear of high risks prevents investors from making investments with an easy mind so holdings feel obliged to support them, she added.

Shahdaei said Iran's petrochemistry industry is half a century old and one of its advantages is its access to oil and gas feedstock and also its remarkable geographical position.

She also termed access to free waters and existence of big internal market as another advantage of Iran's petrochemical industry.

Development of Iran's National Iranian Petrochemical Industry is the company's top agenda, the official added.

She noted that there are currently 20 petrochemistry factories in Mahshahr and 12 factories in Assaluyeh in south of the country with 18 others scattering across Iran.

Managing director of the National Petrochemical Company said the annual petrochemical production capacity is 61.5 million tons.

The official said the petrochemical products are value added and they are Iran's major export.

The government is executing 7 petrochemical plans in Mahshahr, 17 plans in Assaluyeh and 26 others in other areas of country, she noted.

Shahdaei said NPC is conducting 5 petrochemical plans with Chinese finance and 10 others with the financial support of the National Development Fund of Iran (NDFI).

Increasing the nominal capacity is the petrochemical industry approach in the future, she added.

The official said absorbing foreign investors and development of petrochemical industry is another approach adopted by the NPC.