Iran and Lebanon have started negotiations in Tehran on sales of petrochemical and polymer products in the post sanction era.
Following negotiations with several companies like Spain’ss Barcelona Oil Company, Lebanon Chemicals Company SAL (LCC) has also officially proposed to sign contracts for purchasing Iranian petrochemical and polymer products.
“Iran marks a major manufacturer and exporter of various petrochemical products in the world,” LCC’s executive director told the reporters pointing to Lebanon’s demand to import these products.
The member of the board at the Lebanese company pointed to the talks with a number of Iranian petrochemical firms; “negotiations aim to reach agreements on buying petrochemicals; in addition to high quality, Iranian products enjoy reasonably low prices compared with other manufacturers.”
Currently, Iran's petrochemical production capacity amounts to 60 million tons per year while the figure is estimated to rise by 6.2 million tons following the implementation of ten new petrochemical projects in the current Iranian year (began March 20).
On the other hand, the value of Iran’s petrochemical production will increase by 4.8 billion dollars with the operation of new petrochemical plants while another 9.6 million tons will be added to the production capacity in the next Iranian calendar year.