BASF Plans Iranian Site

Germany’s BASF, the world’s largest chemical producer, plans to invest $6 billion in Iran’s petrochemical sector, a report said.

BASF will invest in Asaluyeh where Iran is carrying out its largest gas development project by tapping gas from the giant South Pars field in the Persian Gulf, director of planning at the National Petrochemical Company (NPC) Hamid Reza Rostami was quoted as saying by The Iran Project.

“BASF has decided to make direct investment in Iran, bringing in capital, technology, management and a guaranteed market for products which we welcome,” Rostami said.

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