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$4bn Investment by BASF in Iran Petchem Sector

Source: Shana 2/13/2016, Location: Asia

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Germany's giant chemical company BASF is planning to invest 4 billion dollars in Iran's petrochemical industry, a senior petrochemical official said.

Marziyeh Shahdaei, the managing director of Iran's National Petrochemical Company (NPC), said the BASF, the world's largest producer of chemical products, will have 60% stakes in a petrochemical township it is planning to finance in southern Iran. The project will be constructed by Parsian Special Industrial Zone.

BASF’s planned investment in Iran will also involve a guaranteed market as well as the transfer of technology, said Hamid Reza Rostami, the NPC director for planning affairs, in December last year.

Germany’s Linde and Japan’s Mitsui are also negotiating with Iran over investments in the country’s petrochemical industry, the Iranian official said.

BASF has financed 6 petrochemical townships in other countries so far and is planning to construct the 7th one in a ban-free Iran.

A holding, BASF earned 74 billion euros in 2014 making it first in the world in terms of annual revenues among chemical companies.

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