{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Foreign investment vital for Iran\u0026#39;s petrochemical industry' data-url='/boclips/videos/5c54c183d8eafeecae152b5d' data-video-url='/boclips/videos/5c54c183d8eafeecae152b5d' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nForeign investment vital for Iran\u0026#39;s petrochemical industry\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eIran is an oil and gas-rich region, with a reservoir of 33 trillion cubic meters of natural gas resources.Natural gas is the main ingredient used in producing petrochemicals. Iran's petrochemical plants export around 12.8 million metric...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eIran is an oil and gas-rich region, with a reservoir of 33 trillion cubic meters of natural gas resources.\u003cbr/\u003eNatural gas is the main ingredient used in producing petrochemicals. \u003cbr/\u003eIran's petrochemical plants export around 12.8 million metric tones abroad, which is valued USD 9.9 billion. 14.5 million tons of petrochemical products are used domestically.\u003cbr/\u003eExperts say Iran failed to attract enough foreign investment in the past 8 years when Mahmoud Ahmadinejad was president. \u003cbr/\u003eWestern sanctions imposed during his term of power contributed to many foreign companies leaving the country.\u003cbr/\u003eAs a result, domestic employment in petrochemical plants was affected.\u003cbr/\u003eEshagh Jahangiri, Iran's first vice president, says: \u003cbr/\u003e\"Using overseas financial resources, supported by the country's banking system and the national development fund, is a key policy Iran is pursuing to develop its petrochemical industry.\"\u003cbr/\u003eOil minister Bijan Zanganeh stresses \"Our petrochemical industry still needs to access modern technology, financial resources and presence in international markets. Latest assessments show that we need financial resources as mush as $70 billion USD, out of which 30% is needed for downstream industries especially polymers and particularly polypropylene and related products.\"\u003cbr/\u003eRepresentatives from 300 Iranian companies and 50 foreign companies from 27 countries took part in the conference. Germany, France, Spain, Japan and Switzerland were among the countries represented at the event.\u003cbr/\u003eIranian officials promised during the conference that they are planning long-term partnerships with foreign investors. \u003cbr/\u003eUnder an interim nuclear deal reached last November in Geneva, the U.S and E.U agreed to suspend sanctions on Iran's petrochemical exports, as well as sanctions on associated services.\u003cbr/\u003eHowever, foreign investors apparently need long-time assurances to be convinced to return to Iran.\u003cbr/\u003eMohammad Hossein Peyvandi, deputy head of Iran's state-controlled National Petrochemical Company says attracting foreign investment would depend on the outcome of the ongoing nuclear talks between Iran and the P5+1. \u003cbr/\u003eThe P5 + 1 are the US, Russia, China, the United Kingdom and France, plus Germany\u003cbr/\u003e\"Everything depends on the conclusion of P5+1 negotiations (with Iran). We have to a little bit wait for this,\" Peyvani says.\u003cbr/\u003e++AP Television is adhering to Iranian law that stipulates all media are banned from providing BBC Persian or VOA Persian any coverage from Iran, and under this law if any media violate this ban the Iranian authorities can immediately shut down that organisation in Tehran.++\u003cbr/\u003eAsaluyeh, southern Iran, 22 January 2014\u003cbr/\u003e1. Various of refinery \u003cbr/\u003eTehran, 7 June 2014\u003cbr/\u003e2.Wide of attendees at a conference on petrochemicals standing to attention as Iran's national anthem is played\u003cbr/\u003e3.Eshagh Jahangiri, Iran's first vice president (centre), Bijan Zanganeh, oil minister (left) and Mohammad Reza Nematzadeh, ministry of industry, mines and commerce sitting down\u003cbr/\u003e4.Wide of conference\u003cbr/\u003e5.Mid of foreign guests\u003cbr/\u003e6.Mid of other foreign guests\u003cbr/\u003e7.Mid of Jahangiri walking to podium\u003cbr/\u003e8.Mid of audience\u003cbr/\u003e9.SOUNDBITE (Farsi) Eshagh Jahangiri, Iran's first vice president: \u003cbr/\u003e\"Using overseas financial resources, supported by the country's banking system and the national development fund, is a key policy Iran is pursuing to develop its petrochemical industry.\"\u003cbr/\u003e9.Wide of audience clapping\u003cbr/\u003e10.Mid of audience\u003cbr/\u003e11.Bijan Zanganeh, Iran's oil minister walking to podium\u003cbr/\u003e12.SOUNDBITE (Farsi) Bijan Zanganeh, Iran's oil minister: \u003cbr/\u003e\"Our petrochemical industry still needs to access modern technology, financial resources and presence in international markets. Latest assessments show that we need financial resources as mush as $70 billion USD, out of which 30% is needed for downstream industries especially polymers and particularly polypropylene and related products.\"\u003cbr/\u003e13.Mid of audience\u003cbr/\u003e14.SOUNDBITE (English) Mohammad Hossein Peyvandi, deputy head of Iran's state-controlled National Petrochemical Co.: \u003cbr/\u003e\"Everything depends on the conclusion of five plus one ( P5+1) negotiations (with Iran). We have to a little bit, we have to wait for this.\"\u003cbr/\u003e15.Mid of Peyvandi and foreign guests laughing\u003cbr/\u003eAsaluyeh, southern Iran, 22 January 2014\u003cbr/\u003e16.Various of refinery \u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator 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