TEHRAN Oct. 14 (Shana) – Iran’s major petrochemical firm, the Persian Gulf Holding, is in business talks with 15 major foreign companies in a bid to finance it projects.

“In line with the policy to develop the petchem sector and stop crude sales, 3.5 billion euros from the National Development Fund has been allocated to the company. About 50 percent of the sum has been finalized and is gradually utilized,” holding’s CEO Adel Salimnejad told Shana.

“We are also in talks with some 15 foreign investors, and signed MoUs with half of them,” he added on the sidelines of the launching ceremony of Sadaf Petrochemical Complex.After removal of sanctions and arrival of the modern technology, the company will start production of a diversified range of products, its directors said.

According to the new data by the Independent Chemical Information Services (ICIS), the Persian Gulf Holding has the world’s number 44 position with an improvement of 5 ranks. It also maintains the Middle East’s second title.

By SHANA