, the company has focused on the transfer of technical knowhow and empowering the domestic sector through partnership between Iranian and foreign companies. This issue has been an important element in the Resilient Economy.
NPC has signed memorandums of understanding with leading petrochemical companies, and reached agreement with countries like China, Austria and Germany for cooperation. Some of them are as follows:
-MOU with France's Total to conduct studies for petrochemical projects in partnership with Iranian investors (currently Persian Gulf Petrochemical Industries Company);
-MOU with Germany's Linde to carry out air separation units within the framework of BOO or BOT deals in Iran and also transfer of technical savvy along with facilities provided by German banks for operating a petrochemical project in Iran in partnership with Iranian investors;
-MOU with France's BASF to conduct studies for joint venture deal with Iranian investors (currently Persian Gulf Petrochemical Industries Company) to build a major petrochemical plant in Iran;
-MOU with Japan's Mitsui to conduct studies on a centralized petrochemical utilities project in the second phase of Assaluyeh with the financing of Japan's JBIC bank;
-MOU with Sercobe to study method of cooperation and supply of equipment and technical knowhow needed in petrochemical industry through Spanish companies and manufacturers and financing by Spanish banks based on corporate guarantee;
-MOU with Japan's Sojitz to conduct feasibility studies on GTPP project in Iran;
-MOU with South Korea's Hyosung to conduct feasibility studies on PDH/PP project in Iran;
-MOU with Royal Dutch Shell to conduct feasibility studies and assess investment in Iran's petrochemical industry and benefit Shell's technical knowhow for petrochemical industry development (with GTL priority)
-Negotiations with Dz Bank, KFW Bank and Hermes FCA of Germany for insurance cover based on corporate guarantee and supplier's credit structure;
-MOU with Japan's JBIC and NEXI to provide credit for financing petrochemical projects in Iran based on corporate guarantee and supplier's credit structure;
-Negotiations with commercial attachés of the Danish and British embassies in Iran to invite banks and export credit agencies of Denmark and Britain to get familiar with petrochemical projects and create a financing structure without state guarantee;
-MOU with Japan's Marubeni to study a 320-million-euro usance contract based on the Persian Gulf Petrochemical Industries Company's Corporate Guarantee (the agreement was finalized and took effect);
-MOU with Japan's ITOCHU to examine a 320-million-euro (that could be raised to 640 million euros) usance based on the Persian Gulf Petrochemical Industries Company's Corporate Guarantee; and
-Negotiations with relevant authorities in Japan to follow up on the removal of obstacles to the release of a $10-billion credit line agreed upon by Iran's Ministry of Economy and Finance and Japan's Ministry of Economy, Trade and Industry.
Currently, sustainable and balanced development of petrochemical industry in line with the objectives set forth in the 2025 Vision Plan for the petrochemical sector focusing on the completion of value chain based on spatial studies, achieving the rated capacity of existing facilities, development of investment and creating new capacities for petrochemical products, increasing the value-added of hydrocarbon reserves by completing the value chain and incomplete projects, increasing the share of petrochemical industry in national economy and effective presence in global markets, development of technology and operation of domestic knowledge-based companies with a view to indigenizing modern technologies, market development, diversification of products and presence in domestic and international markets as well as preparing legal conditions for the allocation of financing needed for petrochemical projects are among major objectives of the NPC.