MOSCOW (MRC) -- The Maku Free Trade Zone is in negotiations with firms from Germany and Turkey for investment in launching petrochemical units in north western Iran, managing director of the zone said, reported GV.
"A delegation from Germany will visit the Maku FTZ in coming weeks and Turkish companies are also interested to invest in the Zone," Hossein Foruzan told Shana. "Petrochemical plans have investment priority in the zone," he added, "The infrastructure is inviting the investors too."
Foruzan cited rich water resources and feedstock supply as major advantages of the zone which justify investment in launching petrochemical industry.
As MRC wrote previously, in early October, Director general of the Association of Petrochemical Industry Corporations (AIPC) referred to the talks with some European petrochemicals distributors estimating increased export in petrochemicals after the removal of sanctions. Before the rise of sanctions, 10 to 14 percent of Iranian petrochemical products were exported to Europe bringing a profit of about 2 to 2.5 billion dollars to the country.
Currently number of active Iranian Petrochemical complexes are 53, with total production capacity of 59 million metric ton, producing range of polymers, chemicals, aromatics & liquid gas, located mainly at Iranian south region, next to Persian Gulf, called Assaluyeh and Mahshahr Special Economic Zones.
At the moment, there are 67 developments projects in the country which are under construction, adding 61 million metric ton on total production and estimated to fully run till 2018.
MRC