Business With Iran Beginning To Open Up
Seeing a business boom from rare exotic spices to petrochemicals looming
Managing director of Iran’s National Petrochemical Company (NPC) says the country welcomes cooperation with US companies in petrochemical sector considering that American petrochemical firms are also interested in working with Iran.
Managing director of Iran’s National Petrochemical Company Abbas Sha’rimoqaddam
Abbas Sha’rimoqaddam was quoted by Iranian media as saying last Tuesday that the NPC officials have already negotiated with a European company that has an American partner.
“Officials of the European company told us that their American partner had encouraged them to travel to Iran and start negotiations for possible cooperation,” he added.
Noting that the American companies are willing to work with Iran’s petrochemical industry, the official said, “We are also willing to cooperate with them because Americans have cutting-edge technology while their prices are more suitable” than other companies.
“Of course, we are not simply seeking technology transfer through cooperation with foreign companies unless they have a special technology, which is of particular significance to us,” he said.
Sha’rimoqaddam stated that after the conclusion of Iran’s nuclear talks with the P5+1 group of countries in Vienna on July 15, Italian, Dutch, German, Spanish, French, Indian, South Korean and Japanese delegations have visited the country indicating their readiness to work with Iran’s petrochemical sector.
Iran has already announced that it is planning to boost its petrochemical output from the current figure of 60 to 120-M tonnes during the Sixth Economic Development Plan with the ultimate goal of increasing the figure to 180-M tonnes by Y 2025.
The country needs $ 70-B in new investment to achieve this goal, which should be supplied through annual attraction of $7-B of investment.
Iran’s “Red Gold” Harvest To Reach 300 Tonnes
Iran’s “Red Gold” output to hit 300 tonnes, the nations production of Saffron, the world’s most expensive spice is expected to hit 300 metric tons this year thanks to better rainfall, officials said.
Iran is the world’s largest producer and exporter of the ingredient staple used to flavor food and pastries, with further application in medicine and cosmetics.
The 1st harvest of the reddish, aromatic plant dates back to 3,000 years ago in Iran.
Have a terrific holiday weekend.
HeffX-LTN
Paul Ebeling
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