Iran, Swiss company to go on petrochemical joint venture investment.

Iranian Sadaf Petrochemical Assaluyeh Company and Swiss company on Sunday signed a joint venture investment contract for a construction project of a petrochemical plant southern Iran, IRNA reported.

That's the first contract signed after lifting sanctions in the aftermath of the Joint Comprehensive Plan of Action. Talks for contribution of the Swiss party to thepetrochemical industry have been fruitful and that's the first contract to be signed for Iran's cooperation with a foreign company in the petrochemical industry.

As experts believe, Iran is a paradise for investment and exceptional advantages of Iranianpetrochemical industry have encouraged foreign investors, especially the Europeans. The 11th government is to benefit from the post-JCPOA and post-sanctions opportunities to pave the way for development of the petrochemical industries and hence, attract financial resources and new technologies.

Over recent months, extensive talks have been held with the European and Asian companies for presence in the oil industry and if the agreements go into effect, tens of billion dollars will be flown to the industry. According to the National Petrochemical Industries Company, Sadaf Petrochemical Assaluyeh Company and Swiss Welding Engineers company signed contract for construction, installation and operation of the unit. 
Speaking after conclusion of the contract, Managing Director of Sadaf Petrochemical Assaluyeh Company Ahmad Jazayeri said the contract was signed after taking all dimensions of the project into consideration. He said the Swiss company had newly been verified by the Italian Versalis company regarding the high sensitivity of the work due to be done. The official said ESBR will be the main end product of the company with application in the auto tire production. 

Date: 12.June.2016