German firms to cooperate in Iran's petrochemical projects

Talks with two giant German companies of Siemens and Linde are underway for cooperation in developing petrochemical projects in Iran, managing director of Iran's Mobin Petrochemical company Jamshid Sabzkar said on Friday.

A high-ranking business and industrial delegation from the German companies are now visiting Iran to discuss energy and economic cooperation with Iran, Sabzkar was quoted as saying.

Following implementation of the JCPOA, or the nuclear deal between Iran and the world powers earlier this year, and lift of economic sanctions, sales and exports of Iranian petrochemical products have increased dramatically, Sabzkar said.

Besides, there has been no obstacle on the way of financial transactions with foreign banks, he said, adding that after removal of economic sanctions, the required equipment are now imported to the country without any problem.

Sabzkar said that in this climate, German companies are determined to boost efforts to promote trade relations with Iran, and the two German companies are set to finalize the contracts with their Iranian partners.

They have voiced readiness to help implement developing projects at Mobin Petrochemical Company and even to do investment in the relevant projects, Sabzkar said.

Linde has also voiced readiness to purchase the produced petrochemical products at Mobin company, he added.

On Tuesday, Bijan Namdar Zanganeh, the Iranian oil minister, said that Iran was involved in negotiations with international companies for Iran's oil projects.

Iran and the world powers reached a nuclear deal last July which enables the country to re-engage with international energy firms to develop its oil and gas fields. Endit