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Head of Investment Management at NPC:

Links with Foreign Investors not fully Severed

Links with Foreign Investors not fully Severed
(Tuesday, January 19, 2021) 12:26

TEHRAN (NIPNA) -- The head of investment management of the National Petrochemical Company (NPC) said contacts with foreign investors were not fully severed with the country despite the severe sanctions.

Emphasizing that the launch of projects had not been hamstrung in Iran because of the US bans on Iran, Shahram Rezaei said: "With the participation of petrochemical holding companies, the benefits and profits obtained through these holdings will be distributed among the people and the general public for the growth and development of the country."

The official explained the latest investment climate and other developments in the petrochemical industry in an interview with NIPNA.

He said the Islamic Republic of Iran, due to the abundance of God-given gifts, including huge reserves and resources of oil and gas and being located in the largest and most important energy highway in the world, has a lot of potential in the field of energy, especially oil, gas and petrochemical industries.

The official went on to add that with a comprehensive and specialized view of the country's petrochemical industry from its inception to recent years, it can be seen that long and effective steps have been taken in the field of investment in this industry, many of which have paid off and the country and the people of this land are blessed.

There is a lot of willingness in investors to invest in the petrochemical industry - despite the financial and legal risks in Iran - many of which are due to anti-Iranian sanctions in recent years - due to the great potential and comparative advantages of the Iranian petrochemical industry, he added.

For example, said Mr. Rezaei, some of the advantages are existing protection laws, the existence of special zones and free zones in the country, the existence of abundant feedstock and the possibility of its sustainable supply, access to communication highways and international high seas, proximity to consumer markets, the existence of necessary infrastructure, technical, engineering and executive capabilities of Iranian manufacturers, suppliers and contractors, the existence of very successful experiences in the field of equipment, installation and commissioning in various sectors of industry and the existence of local and specialized labor force.

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