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Iran To Finalize 10 Petrochemical Deals In 2 Mos - IRNA

TEHRAN (Dow Jones)-- Iran 's National Petrochemical Co. (NPC) is at the closing stage in negotiations with international companies to build 10 petrochemical projects, deputy oil minister and NPC head Mohammad-Reza Nematzadeh said Saturday.

Nematzadeh said the winners of the relevant tenders will be announced within the next two months or so. The offered tenders included new projects as well as new units at existing plants.

NPC has previously estimated the total value of its strategic development plan, which includes these and other projects, at $15 billion.

Nematzadeh said Iran 's ambiguous foreign investment law is still hindering investment in the country's petrochemical projects despite the numerous advantages of investing in Iran .

Iran 's state news agency IRNA quoted Nematzadeh as saying that the Iranian government should spell out its policy with respect to monetary, foreign exchange, taxes and other issues.

The NPC chief said that definite measures should be instituted to inform potential overseas investors of the advantages of investing in Iran with respect to raw materials and services.

He noted that Iran has abundant natural gas, the price of which will soon be set in cooperation with the country's Oil Ministry.

He didn't elaborate on the price issue.

"The prices of other raw materials in Iran are less than those offered by regional countries", he said.


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