Iran seeks $70b petrochem funds
Iran will host an international petrochemical conference on Nov 26-27 and will try to seek $70 billion from investors to boost petrochemical sector, Financial Tribune daily reported. The event is expected to bring together some of the world’s biggest companies from Italy, Germany, Spain, the United Kingdom, France, China, India, Singapore and Qatar, to study opportunities in Iran’s lucrative petrochemical sector. The two-day event is focused on exploring financing methods for petrochemical ventures, transferring cutting-edge know-how in the field and introducing investors to opportunities in the Iranian petrochemical industry. According to the report, more than $70 billion in foreign investment is needed to develop Iran’s petrochemical sector, as the most important economic sector after oil and gas.