“A number of European countries that were earlier present in our country have voiced readiness for renewed presence in Iran’s petrochemical industry,” Abbas Shari-Moqaddam said.

He attributed this willingness to hopes for the removal of sanctions on Iran under a nuclear deal with six world powers.

Shari-Moqaddam, who is also managing-director of National Petrochemical Company, said that removal of sanctions would allow NPC to benefit from the technical knowhow of European companies.