Head of Iran's National Petrochemical Company (NPC) Abbas She'ri-Moqaddam announced on Wednesday that two Japanese companies have declared tendency towards making investments in Iran's petrochemical industry.
"Mitsubishi Chemical Holdings and Mitsui Chemicals from Japan have voiced interest to invest in domestic petrochemical projects," She'ri-Moqaddam told reporters.
The NPC chief added that both companies are waiting for the west-led financial sanctions against Iran to be terminated in by the yearend to start making their investments.
"The prerequisite to any cooperation with Iran in industry sector is making joint ventures with Iranian counterparts on the way to share technological knowledge and experience with us," he said, "Iran is not inclined to turn into a mere technology importer and foreign companies are bound to accept this."
Indians, Japanese, English, Chines and etc., are reportedly interested to cooperate and invest in Iran's petrochemical complexes.
After the endorsement of the nuclear agreement with the P5+1 (the five permanent UN Security Council members plus Germany) group of powers in Vienna on July 14, a large number of foreign investors have rushed to Iran to have a share in its lucrative and untapped market specifically after the removal of unfair anti-Iranian economical embargo, which is set to fall away by the current yearend.
However, Iran has adopted policies which rely on transfer of technological know-how into the country and limits the volume of imports; policies which welcome foreign investors rather than exporters.