On January 16
2015, the Joint Comprehensive Plan of Action (JCPOA) was put in to action and
all the EU-US sanctions as well as all the United Nations Security Council resolutions
against Iran were abolished, which provided the best space for the development
of the petrochemical industry in the Iran.
of huge oil and gas resources in Iran is considered as a strategic advantage for
the country. Likewise, being aware of the advantages of investing in the Iranian petrochemical
industry after JCPOA implementation, international companies' rushed to the
country to hunt out investment opportunities in the sector. They targeted the
country as it offered unparalleled advantages to the sector like abundant and
cheap feedstock, access to high seas, adequate land, infrastructure, skilled
Total, Linde, BASF,
Shell, Mitsui, Sojitz and Hyosung are among the companies that have expressed a
desire to join and invest in Iran's petrochemical industry in the post-JCPOA setting.
The result of the talks with these companies are signature of a memorandum of
understanding (MoU) for carrying out studies on the implementation of a
petrochemical project in Iran with the participation of Iranian investors with France's
Total, signing of an MoU for studying and evaluation of investment in the
Iranian petrochemical industry and adopting the technical savvy for developing
the sector with gas to liquids (GTL) projects as a priority with the Royal
Dutch Shell Company, signing of a Memorandum of Understanding for a joint project
with South Korea's Hyosung for developing a PDH/PP project, signing of an MoU
on implementation of B.O.O or B.O.T projects in Iran with investment from
German banks and carrying out another project with Germany's Linde Group.
talks with foreign banks such as Denmark, Japan, Germany and Britain to finance
petrochemical projects are among other post-JCPOA openings in Iran.
of these memoranda of understanding into operational contracts is obvious is a
time-consuming process; therefore, circumstances should be prepared for the
presence of foreign investors in the sector. It should also be noted that the
expansion of relations with the world and the reduction of investment risks in
the country can lead to continuation and preservation of investments and,
consequently, the stronger presence of Iran's petrochemical industry in the
global markets and, ultimately, the growth of the country's economy.
Apart from the
need to raise funds for the development of the petrochemical industry, it is
impossible to ignore the improvement of the export of petrochemical products in
post-JCPOA era. Petrochemical export shipments were severely impacted by the international
boycotts on Iran. But, thanks to the efforts exerted by Rouhani Administration,
many of the issues relating to insurance policies and transpiration of goods as
well as currency and banking transactions diminished and export destinations
Most of the
activities in the petrochemical industry are carried out in a process, so with
the increasing diversity of products and the intense competition of
petrochemical manufacturing companies in the global markets, the industry needs
new technologies for sustainable growth. The use of new technologies is a trump
card for the development of any country. As a result, the improvement and
modernization of the petrochemical industry processes and the growth of the
quality of the products must be considered far more than before.
can minimize the gap between developing countries and the developed ones. Tapping
the successful experiences in the world, while covering this gap, prevents
waste of resources. Besides, we shall witness the rapid growth of knowledge and
technology in the country with global partnerships.