Global energy majors Shell and Total are keen to invest in Iran’s petrochemical industry, according to a senior Iranian official.

Total has displayed willingness towards setting up an ethane cracker plant as well as two polyethylene units in Iran, Marzieh Shahdaei, managing director of National Petrochemical Company, was quoted as saying in an Iran Daily News report.

The official added that the current global price of ethane is reasonable, and has encouraged investors to enter into Iran's market.

Based on estimates, she said that the current feed price for petrochemical industry secures profits to the tune of at least 25 per cent for companies.

Shahdaei noted that her company has turned down India's proposal of 4-5 cents per-cubic-meter for gas feed for its urea and ammonia plants.

She added that companies from Germany, France, Spain, Italy, the Netherlands, South Korea, Japan and even the US have indicated readiness to participate in Iran's petrochemical projects.