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Iran: Tehran mulls petrochemicals bank plan, denies China problem

Establishment of a specialised bank to encourage more investment into the petrochemicals industry is being considered, according to officials quoted by the official Shana news agency. The development emerged during a meeting of the Majlis-e Shura-ye Eslami (Islamic Consultative Assembly – parliament) Industries and Mines Committee, which was addressed by National Petrochemical Company managing director and deputy petroleum minister for petrochemical affairs Marziyeh Shahdaei. According to committee member Saeid Bastani, Shahdaei told the MPs the government is considering plans for the specialised bank as part of efforts to engage foreign investors and major petrochemical companies.

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