Iran in talks with foreign banks to finance petchem
By Trend
Iran has been in talks with eight foreign banks to finance its petrochemical projects, National Petrochemical Company CEO Marzieh Shahdaei told a press conference.
According to Shahdaee, Iran has been holding talks with three German banks, four Japanese credit institutions, and a British-Danish bank over the past year.
Also, the German BASF’s $4.6 billion investment in Iran is currently under technical studies, Shahdaei said, Tasnim news agency reported February 8.
She also said Total and Shell have recently signed agreements with Iran and they are exploring the situations to invest in the Iranian petrochemical industry.
The country’s nominal petrochemical output is expected to hit 64.1 million tons by March. The real output will reach 51 million tons by then.
Iran’s annual petrochemical export is expected to reach 20.2 million tons by the said time. However, the value of the export is calculated to stand at 9.5 billion, 21 percent lower than that achieved four years earlier due to plunging global oil prices.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!