Iran and Venezuela plan joint petrochemical company

Aug 01, 2006 02:00 AM

Development of cooperation and joint investment by Tehran and Caracas in petrochemical industries will pave the way for export of Iran’s petrochemical products to Latin American, especially Brazilian, markets.
Asghar Ebrahimi-Asl, managing director of the National Petrochemical Company, told that the two countries have also agreed to cooperate in training, research and technical fields.

The official stated that Iran and Venezuela will also cooperate in target markets. He noted that Tehran and Caracas are to establish a joint company for technical and investment cooperation in petrochemical fields, adding, “Articles of association of the company will be proposed by the Iranian side to the Venezuelan side within a month and the company will be inaugurated over the next three months.”
“Enhanced cooperation between Tehran and Caracas will pave the way for exporting Iran’s petrochemical products to Latin American and especially Brazilian markets. Also, Venezuela can export its petrochemical products to Middle East countries, India, Pakistan, and Central Asia via Iran,” he said.

Ebrahimi-Asl stated that 30 mm tons of new capacities will be created in Iran’s petrochemical industry over the next four years and Venezuela is also planning to boost its petrochemical production capacity by 45 mm tons.

Source: PIN
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