TEHRAN – Head of Iran’s National Petrochemical Company (NPC) said that many Russian companies are interested in investing in the downstream petrochemical industries in Iran, and different and attractive investment packages have been prepared and introduced in this field.

Making the remarks on the sidelines of RosPlast Exhibition in Moscow, Morteza Shah-Mirzaei said the National Petrochemical Company is mainly interested in cooperation with Russian companies for exchanging technical and engineering services, technology transfer and the export of catalysts needed by Russia’s petrochemical industry.

“With the investigations carried out, Russia can now export some of its surplus petrochemical products such as styrene and polypropylene to the Iranian market, and in return import technical and engineering services, especially in the field of technology and catalysts, from our country,” Shah-Mirzaei noted.

Stating that Iran's long-term strategy and diplomacy is to strengthen bilateral cooperation and partnership with neighboring and friendly countries in the oil, gas, and petrochemical industry, he said: “Iran's rich oil and gas reserves, proximity to open waters, easy access to export markets such as India, China, East Asian countries and African countries, the existence of specialized workforce, localization of technology, production of goods and equipment needed by the industry, and low finished price are among the advantages of foreign investment in Iran.”

He put Iran’s current nominal petrochemical capacity at over 92 million tons per year, emphasizing that with NPC’s strategic planning for the industry development, especially in the south of the country and along the shores of the Persian Gulf and the Oman Sea, as well as in the new phases of the two hubs of Asalouyeh and Mahshahr, this sector is expected to grow more rapidly.

EF/MA