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China to invest billions in Iran petrochemical industry

China to invest billions in Iran petrochemical industry
ID : N-1264 Date : 2018/02/13 - 12:56

(Persia Digest) – A high-ranking delegation from HQC company representing the Chinese government visited Chabahar in southern Iran to assess its potentials for the construction of a petrochemical park. The visit took place within the framework of and MoU signed between the Iranian and Chinese presidents and the drafting of a document promoting mutual cooperation between the two countries.

The delegation visited the Makran Petrochemicals Park and Shahid Beheshti Port as the only inland port of Iran with access to the ocean.

Company Vice President, Zhang Laiyono, pointed out to the valuable experiences of Neguin Makran Petrochemicals managers in the construction of the park, and said: “Our group is interested in working with this company.”

HQC Vice President described Makran Park as a top location, and added: “The design and plans of the petrochemical park and Shahid Beheshti Port are very professional.”

Zhang Laiyono said the path that the 2015 JCPOA Iran nuclear deal may take is irrelevant to China’s interest in investing in the industry of Iran, and added: “China is ready to invest tens of billions in the petrochemical industry. Based on this, we will announce our decision on the location and construction of the petrochemical park by the end of April.”

This high-ranking representative of the Chinese government continued: “Extensive studies on the selection of a country suitable for investment in the petrochemical sector show that, regardless of political risks, Iran is the best place for the implementation of the petrochemical park and could be the world's petrochemical hub.”

Laiyono pointed out to the “Going out” project in China (energy hub), and said: “Since 1999, the project has aimed to use investments outside China's borders to strengthen the country's economic potentials. The One Belt One Road (OBOR) initiative was announced by the Chinese President in 2013 whereby large trillion-dollar investments will be made by China in around 70 countries.”

HQC has 21000 employees, ten branches in China, and nine branches in Southeast Asia, West Asia, Central Asia, Europe, and the US. It provides all consultancies on engineering, construction, and EPC contract works in the fields of oil, gas, and petrochemicals.

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