The Iranian petrochemical industry has received interest from a number international companies eyeing business opportunities, said the deputy managing director of the National Petrochemical Company.

Iran will welcome new investments in order to enable the petrochemical industry to return to its real position and play its role in the economic development of the country, Mohammad Hassan Peyvandi was quoted as saying in an Iran Daily report, citing IRNA.

He said that the grounds have been prepared for the return of major petrochemical companies and powers of the world to Iran.

He added in recent months several European and Asian companies have repeatedly expressed their readiness to invest in Iran.
 
Peyvandi said companies such as Basf, Linde, Exence, Hyundai, Shell and a number of other companies are ready to cooperate for the realisation of the second leap in Iran’s petrochemical industry.

Speaking about the giant natural gas reserves in Iran, he said closeness and accessibility of feed of petrochemical units is one of the advantages of this industry in Iran.

He noted that despite sanctions in the past years, the petrochemical industry did not stop its activities and with the help of domestic specialists progress was achieved in the industry.

He said he hoped that by 2025 more development projects will become operational.