Iran is to host companies from 25 world countries during Iran Petrochemical event, an official said.

Deputy Managing Director of Iran National Petrochemical Company Mohammad Hassan Peyvandi told reporters here on Saturday that the 12th Iran Petrochemical Forum (IPF) will be held in Tehran December 13-14 with participation of numerous international companies including one from the US.

He said a total number of 368 Iranian firms together with 97 foreign companies are to participate in the event.

He referred to Canada, Denmark, France, Germany, Italy, Spain, Japan, Switzerland, Russia, the UK, Australia and India as countries which are sending representatives to Iran.

According to the official, the American companies are going to participate in the event through Spain.

Peyvandi said the event has been greatly welcomed by world companies now in the aftermath of the nuclear agreement which will result in removal of sanctions.

The National Petrochemical Company (NPC) of Iran announced in its website that the Forum, one of the world’s most prestigious events representing the petrochemical industry, will address the core issues that industry is facing.

It said IPF provides an ideal platform where stakeholders and key players in the global petrochemical sector will meet to exchange knowledge and discuss the latest advancements and best practices which are capable of shaping the future of the industry.

Coming on the heels of Iran’s nuclear agreement, NPC will use the event to unveil its post-sanctions projects and plans for further expanding the Iranian petrochemical output capacity from its current 60 million t/y to over 138 million t/y in 2020 and eventually to 180 million t/y by 2025 with an investment of over 80 billion dollars.

Among other plans, NPC seeks to use Iran’s natural gas reserves as raw material to produce propylene and propylene derivatives to provide feed for the expansion of local downstream industries, the website added.