India may invest in Iran's petrochemical sector: NPC

24 Jun '14

1 min read

India is considering investing in Iranshahr and Chabahar petrochemical sites in Sistan and Baluchestan province of Iran, according to the National Petrochemical Company (NPC).

Iranshahr and Chabahar petrochemical sites offer a lot of benefits, especially as these two sites are relatively closer to India compared to the other Iranian petrochemical sites, which would reduce transportation costs, according to Mohammad Hossein Peivandi, deputy director of NPC, Mehr News Agency reported quoting IRNA.

Iranshahr is about 1,000 km closer to India and China compared to Mahshahr and Asaluyeh petrochemical production sites, Mr. Peivandi said.

He informed that Chabahar and Jask are also being considered as potential regions for construction of petrochemical plants. These cities are also located in the Sistan and Baluchestan province, which can become a focus area for petrochemical projects in near future.

Meanwhile, Iran’s Deputy Minister for Oil and Petrochemical Affairs, Abbas Sheri-Moqaddam, has said that Iran is willing to support and cooperate with foreign and domestic investors.

Mr. Moqaddam, who is also the managing director of NPC, said Iran is a safe place for making investments and the country’s petrochemical industry is making a great progress.

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