A senior official with Iran’s Petrochemical Commercial Company International (PCCI) said it has started talks with international enterprises over investments in the country’s petrochemical sector.
Issa Mashayekhi, the managing director of PCCI, said companies from Japan and South Korea have voiced interest to participate in Iran’s petrochemical projects and that they are expected to invest €520 million in form of Usance LC (Letter of credit), Shana reported.
A Korean credit line worth €13b is now available for the Islamic Republic, he said, adding that a Japanese credit line worth €10b will be also allocated in 2017.
PCCI is in charge of holding talks with international companies for financing petrochemical projects and attracting investments for PGPIC projects.
International interest in ties with Iran has been growing since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive nuclear deal and started implementing it on January 16.
The agreement, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.