Iran Press/ Iran news: The petrochemical industry in Iran is set to create investment opportunities worth $150 billion over the next decade, according to Morteza Shahmirzaei on Monday.
He made the remarks at the signing ceremony of a memorandum of understanding (MoU) with a Chinese consortium on providing technical know-how and implementing a Fanavaran Petro Olefin Company project.
The signing of a memorandum between TAPPICO-affiliated companies and Chinese firms signals future cooperation between Iran's petrochemical sector and China.
Neighboring and like-minded countries have the opportunity to cooperate with Iran for investing, developing technologies, and transferring technical know-how, Shahmirzaei continued.
Touching upon a long history of the two countries’ cooperation, the NPC CEO expressed his gratitude to the Chinese government and companies for defying some countries’ unilateralism.
Chinese companies can cooperate in Iran’s petrochemical development projects in Mahshahr, Assaluyeh, Jask, and Makran hubs, he pointed out.
Underlining NPC’s policy on indigenizing all types of technical know-how, catalysts, and equipment, he said, “The signing of the MoU is also in line with the company’s policy and aimed at speeding up development of the industry and completion of its value chain.”
Navid Shahidinia, acting head of Fanavaran Petro Olefin Company, an affiliate of Fanavaran Petrochemical Company, and the Chinese consortium, in the presence of the NPC chief, inked the trilateral MoU.
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