Addressing a specialized panel meeting at the 12th Iran Petrochemical Forum in Tehran, Bruch said the Linde Group is waiting for implementation of the JCPOA for starting off its business activities in Iran.
He said the recent boom in shale oil production and olefin output from China in recent years have caused the current volatilities in the global market causing cancelation of numerous major petrochemical projects across the globe.
"The current petrochemical projects in Iran are the result of previous developments and the country can enjoy a major share in the global petrochemical market by tripling its petrochemical output by 2025," Bruch added.
Some 97 foreign companies from 25 countries have participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.
Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, are discussing the core issues that the industry is facing with the emphasis given to Iran.
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