Tehran, Iran, November 26
By Mehdi Sepahvand –- Trend:
Spain is going to build a petrochemical factory in Iran, according to Hossein Alimorad, chief officer for investment at the National Petrochemical Company.
Accordingly, Iran and Spain are in talks over opening an LC for petrochemical development, he told Mehr news agency November 26.
He also announced that Iran and Germany are in talks over a 3-billion-euro LC for petrochemical projects.
The National Petrochemical Company is holding the talks with Spain’s SERCOBE (Spanish National Association of Capital Goods Manufacturers).
According to Alimorad, Iran is also holding talks with the Danish Haldor Topsoe over technical cooperation, investment, and funding.
Iranian Oil Minister Bijan Namdar Zanganeh earlier announced that the country needs to lure $52 billion in investment to develop its petrochemical sector.
While the current capacity of Iranian petrochemical industry stands at 60 million tons per year, the country plans to increase its annual output to 180 million tons by 2025.