Royal Dutch Shell has signed a memorandum of understanding (MOU) making its intentions to expand its petrochemical output in Iran official.
Shell
The MOU was signed with Iran's National Petrochemical Company (NPC) on October 9th 2016, marking out a cooperation agreement following a period of negotiations.
Hans Nijkamp, who heads up the department for Iran business at Shell, was quoted as saying: "We believe that we have joint projects in he petrochemical field with the National Petrochemical Company."
Nijkamp signed the MOU with NPC CEO Marziyeh Shahdaei, who says the NPC plans to increase its total petrochemical production from current levels of 60 million tonnes to 160 million tonnes by 2025.
Iran has been marked up as a key market for petrochemicals and by extension plastics processing. This year, the German mechanical engineering society the VDMA branded the republic "important" in a report preceding Iran Plast, the plastics trade event, which celebrated its 10th outing in April.