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Iranian, foreign investors invited for joint venture in petchem

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Managing Director of Persian Gulf Petrochemical Industries Company (PGPIC) Adel Nejad-Salim on Tuesday invited Iranian and foreign investors for joint venture cooperation to carry out petrochemical projects.

Nejad-Salim extended the invitation at the 2nd Iranian Petroleum and Energy Club Congress & Exhibition (IEPC 2016) in Tehran on Tuesday.

He said that location on seashores, young experts, and diversity in feedstock are advantages of Iranian petrochemical industry for investment.

He said Iran is now well prepared to welcome joint venture investment by the Iranian and foreign companies.

He said that the company is willing to attract investment and that there is possibility for cooperation with Iranian and foreign entrepreneurs in the form of shares of the active companies or the shares of the projects now commissioned as well as finance.

Nejad-Salim said Iran welcomes financing by foreign investors and Iranian commercial institutions.

‘Such projects as NGL 3200, Hengam, Hormuz, Apadana and Bid Boland are now in the commissioning stage, needing investment.’

He put the budget needed for commissioning of 15 projects are $6.2 billion, that of the engineering projects at four billion dollars and the projects under study are estimated at five billion dollars.

He said that the company is the second big company in the Middle East signing contract for cooperation with such oil giants as Total.

He noted that through production of diversified products and petrochemical feedstock, the investment basket can be made less risky.

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