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Uzbekistan Apt to Fund Petchem Projects in Iran

Source: www.gulfoilandgas.com 12/2/2017, Location: Asia

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A senior Iranian petrochemical official says Uzbekistan has signaled willingness to invest in Iran's petrochemical projects especially in methanol-to-olefin ones. Uzbekistan apt to Fund Petchem Projects in Iran: Official

Following a meeting with Alisher Sultanov, deputy Prime Minister of Uzbekistan, in Tehran, Reza Norouzzadeh, Managing Director of the National Petrochemical Company (NPC), said the central Asian country has indicated it is keen on investing in areas that enjoy vast gas reserves while having easy access to high seas like Iran.

Tashkent is also interested in investing in petrochemical projects in Iran, the official added.

"It was decided during the meeting that a representative from NPC and another one from Uzbekistan will be designated to pursue planning and procedure of the investment," the official added.

Norouzzadeh, who is also deputy petroleum minister for petrochemical affairs further, added Iran will pitch its petrochemical projects to Uzbek investors for carrying out appraisal studies on the schemes.

The official further said that Uzbekistan is mostly keen on financing methanol-to-olefin projects in Iran.

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