Abstract
Iran is in negotiations with BASF to construct a major petrochemical facility in southern Iran, Marziyeh Shahdani, the managing director of Iran’s National Petrochemical Co. (NPC), recently told reporters. The German company may invest $4 billion in the project, according to reports from Iran. BASF declines to comment. The deal, if it goes through, would be one of a series of tie-ups between Iranian chemical firms and multinational chemical and engineering companies. NPC has a goal of producing petrochemicals worth $70 billion per year within 20 years. To realize this plan, the state-owned firm is seeking foreign investment of between $7 billion and $10 billion over the next decade. Investment agreements are emerging now because years of international sanctions imposed upon Iran in response to its nuclear technology program are due to be lifted next month. Iran’s chemical industry has access to large reserves of both oil and natural gas
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