TEHRAN, July 25 (Xinhua) -- Iran will host an international petrochemical conference on November 26-27 and will try to seek 70 billion U.S. dollars from investors to boost petrochemical sector, Financial Tribune daily reported on Tuesday.
The event is expected to bring together some of the world's biggest companies from Italy, Germany, Spain, the UK, France, China, India, Singapore and Qatar, to study opportunities in Iran's lucrative petrochemical sector.
The two-day event is focused on exploring financing methods for petrochemical ventures, transferring cutting-edge know-how in the field and introducing investors to opportunities in the Iranian petrochemical industry.
According to the report, more than 70 billion U.S. dollars in foreign investment is needed to develop Iran's petrochemical sector, as the most important economic sector after oil and gas.
Since the lift of western sanctions against Iran in early 2016, several international companies have started negotiations to establish themselves in Iran's oil and gas projects.
In May, Iran held a major energy exhibition in the capital Tehran with the participation of 1,500 foreign companies from 37 countries, aimed at showcasing the country's latest technical achievements and attracting the foreign investments. Enditem
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