German firms have proposed deals worth more than 12 billion euros ($13 billion) for financing petrochemical projects in Ian, a report said.

“Two leading German companies have indicated their interest to bankroll petrochemical projects as much as €12bn in Iran in the post-sanctions era,” Abbas Shari-Moqaddam, managing director if National Petrochemical Company (NPC), was quoted as saying in the Iran Project.

“Given the recent international developments, we are hosting meetings with high-profile delegations in Iran’s petrochemical industry,” he added.