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Iran Safest Middle East Country for Petchem Investments: NPC Official

Iran Safest Middle East Country for Petchem Investments: NPC Official
(Sunday, December 13, 2015) 17:38

TEHRAN (NIPNA) – A senior petrochemical official says Iran remains to be the safest country in the Middle East which makes the country an outstanding investment target in the region given the ongoing tensions in the region.

Vice President of National Petrochemical Company (NPC) Mohammad Hassan Peyvandi said given the ongoing tensions in the Middle East region, Iran remains to be manifest as the safe haven for petrochemical investments.

Addressing a specialized panel at the 12th Iran Petrochemical Forum (IPF 2015), the NPC official said Iran offers numerous investment advantages to investors which include abundant feedstock supplies and inexpensive educated labor. 

"Iran is the most welcoming country in the Middle East region for petrochemical investments given its safety compared to other regions that are deeply sunken in clashes and instability," he said. 

According to BP's 2013 figures, Iran sits atop the world's biggest oil and gas reserves, added Peyvandi, adding that the country's massive oil and gas reserves ensure sustainable supply of feedstock to petrochemical plants which is very favorable to potential investors. 

"Given Iran's vast gas reserves, we are very much interested in technologies for converting natural gas into methane," he added. 

Iran has 67 half-finished petrochemical projects up for grabs with 20 to 90% physical progress which are planned to come on-stream based on a schedule, he added. 

Some 97 foreign companies from 25 countries have participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.

More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherlands, Russia, and US are taking part in the event.

Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, are discussing the core issues that the industry is facing with the emphasis given to Iran.  
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