14 December 2015 - 15:28
  • News ID: 251736
IPF2015 Great Opportunity in Right Time: German Industrialist

TEHRAN, Dec. 14 (Shana) – Vice president for business development in Air Liquide is upbeat over convention of the Iran Petrochemical Forum (IPF) 2015 saying it is a major opportunity in the right time for the industry in the Islamic Republic.

“This is an exceptional opportunity to introduce Iran’s petrochemical capacities,” German industrialist Dieter Grabenbauer told Shana on the sidelines of the conference here on Monday.

“In the beginning, we are after transfer of energy to our Iranian partners,” he added, “However, we see mid- and long-term investment opportunities as well.”

Grabenbauer also praised Iranian officials for the plans to utilize the country’s advantageous status in terms of energy resources and to transform them to petrochemical products using knowledge-based industries.

Minister of Petroleum Bijan Zangeneh said at the opening of the conference on Sunday that Iran is planning a giant leap in its petrochemical industry following lifting of sanctions so that it can secure the targets set by the country’s Twenty-Year Outlook.

“Value of Iran’s petrochemical products is planned to increase to 70 billion dollars, a target which, nevertheless, requires massive investment, modern technology, and marketing,” he added. 

Some 97 foreign companies from 25 countries participated in IPF2015 which shows an increase of 120 percent compared to IPF2014. 

More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherland, 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, will discuss the core issues that the industry is facing with the emphasis given to Iran.

It provides an ideal platform where stakeholders and key players in the global petrochemical sector meet to exchange knowledge and address the latest advancements and best practices which are capable of shaping the future of the industry.

Following the historic nuclear agreement, Iran is also using the event to unveil its post-sanctions projects and plans for further expanding the Iranian petrochemical output capacity from the current 60 million t/y to over 138 million t/y in 2020 and eventually to 180 million t/y by 2025 with an investment of over $80 bn.

NPC seeks to use Iran’s natural gas reserves as raw material to produce propylene and propylene derivatives to provide feed for the expansion of local downstream industries.
News ID 251736

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