Head of Iran's National Petrochemical Company (NPC) said the company fulfilled most of the feedstock supply plans it has envisaged for the previous Iranian calendar year which ended March 19 and expects to see more petrochemical feedstock available to supply plants by the end of the current year to March 20 2017.
Marziyeh Shahdaei said once new phases of the supergiant South Pars gas field come online, fresh feedstock resources will become available for petrochemical plants across the country.
She said the removal of US-led sanctions on Tehran's nuclear programs will bring about a landmark boost in the country's economy including the petrochemical industry.
"As a matter of fact, we have faced many troubles in money transfer, financing of projects, transfer of technologies and purchasing of industrial items needed for boosting the sector, over the course of the past years," she said, highlighting the impact of the sanctions on the petrochemical industry.
She said NPC is in talks with foreign companies for the transfer of technologies and technical savvy for boosting the sector.
Shahdaei said many companies from Europe, East Asia and other parts of the world have signaled their willingness to finance Iran's petrochemical projects, adding that many of the companies that were active in Iran before the sanctions have said are ready to return to the oil-rich country.
She further said that access to high seas and abundance water supplies are among Iran's advantages for developing petrochemical plants, adding that the country also enjoys enough educated labor that can assist development of petrochemical projects without needing to bring experts from other countries unlike other regional oil-rich countries.
The NPC chief said abundance of petrochemical feedstock both as liquid and gas is another advantage of investment in Iran which can be luring for foreign financiers.