Iran seeks $70b petrochem funds

China Daily (Hong Kong) - - BUSINESS -

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.

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