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Iran preparing to launch key petchem event

5 December 2015 18:03


Iran is preparing to hold a key petrochemical conference in which representatives from 25 countries will participate.

Officials say that over 300 Iranian companies as well as around 100 foreign petrochemical enterprises will take part in the two-day conference which is titled Iran Petrochemical Forum (IPF).

Mohammad-Hassan Peyvandi, the IPF secretary, told reporters on Saturday that the participants include a company from the United States which he did not name.

Other key participants are companies from Canada, Denmark, France, Germany, Italy, Spain, Japan, Switzerland, Russia, Britain, Australia and India.

The IPF will open in Tehran on 13 December, IRNA reported.

Peyvandi emphasized that foreign companies are particularly interested in exploring the opportunities for investing in Iran’s petrochemical industry specifically now that the sanctions against the country are about to be removed.

He said Iran’s policy will be to encourage investors to bring their technology into Iran’s petrochemical industry – what he said will eventually help boost the country’s technical capabilities in this crucial sector.

The country currently has a capacity to produce more than 60 million metric tons of petrochemical products per year. That capacity is expected to increase with the operation of new plants – most of which are located in southern energy hubs.

Iran had already announced ambitious plans to increase production of petrochemical products to raise exports to European markets.

Officials also said in July that the country is currently capable of exporting more than 2.5 million tons of its petrochemical and polymer products to Europe a year.

They have further emphasized that a special plan has been devised for Iran to export petrochemical products to the United States.

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