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Iran Petchem Industry Offers $9b Investment Opportunities

Iran Petchem Industry Offers $9b Investment Opportunities
(Thursday, May 18, 2023) 14:10

TEHRAN (NIPNA) - The investment director of the National Petrochemical Company (NPC) announced on Wednesday that $9 billion worth of new investment opportunities in the petrochemical industry are up for grabs and invited investors to participate in 116 projects with preliminary approval.

Reza Nekouei, speaking at the 27th Iran Oil Show in Tehran, said that despite the sanctions, Iran's allies had a strong presence at this year's event and hoped that the bilateral relations that had been established would lead to long-term investments in the petrochemical industry.

He said that Iran and Russia had increased their interactions in the petrochemical sector in the past one or two years, and added: "We are trying to introduce new investment opportunities to the Russian petrochemical industry activists so that we can attract more investment from allied countries by providing them with a complete chain of gas and hydrocarbon resources and moving towards completing the value chain."

Introducing 19 new projects for investment

The investment director of NPC said that 19 new projects worth $9 billion in various chains, such as methanol chain, have been defined and introduced for domestic and foreign investment, and said: "At the oil, gas refining and petrochemical exhibition, we will hold face-to-face meetings with foreign investors and provide them with a good opportunity to invest in Iran for a long time and be present by introducing them to a complete chain of gas and hydrocarbon resources."

He said that Morteza Shahmirzai, deputy petroleum minister for petrochemical affairs, had emphasized the localization of technical knowledge, use of domestic catalysts and equipment design, pursuit of social responsibilities of companies, assistance to deprived areas and use of domestic equipment and goods, which would be followed up in the preliminary agreements.

The investment director of NPC said that regarding the bilateral communication with domestic and foreign investors at the oil industry exhibition, he said: "According to the talks with foreign investors and visitors from various countries, we realized that foreign petrochemical industry activists do not have a realistic view of Iran and the progress of the country's petrochemical industry, so face-to-face meetings with manufacturers and production units can lead to a realistic view of Iran's petrochemical industry and increase awareness."

Nekouei said that the investment management had provided the latest information on the country's petrochemical industry projects, which include more than 116 projects with preliminary approval, to investors, banks and financial institutions on its website so that those who are active in capital provision in Iran's petrochemical industry can obtain the necessary information through the website of investment management at

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