Ludwigshafen, Germany – Reports that BASF is poised to invest billions of dollars in Iranian petrochemicals met with “no comment” from the German company.
UTECH-polyurethane.com’s attempt to confirm a report on Iran’s Press TV news site with the chemicals firm was answered by Jennifer Moore-Braun, BASF head of media relations, with a refusal to comment on speculation.
The company’s ceo Kurt Bock however, was BASF’s envoy on a ministerial visit to the Middle Eastern country in July, 2015.
Bloomberg later reported Bock as having intentions to rebuild economic ties with the country when sanctions were lifted.
Shortly after Bock joined the Iran delegation alongside the German economy minister Sigmar Gabriel, Bock said in a BASF conference call: “German technology, German quality work and German reliability are very highly regarded and so we see good chances to tie again into old developments.”
Bock added that the chemical maker had retained a small team in the country and that the company had been doing business in Iran since 1959.
Rumour of BASF’s imminent investment in Iran has circulated in various forms since 2015.
Earlier in February, UTECH-polyurethane.com reported on Labyrinth Research and Market’s predictions for a 200kT/year PU market within Iran by 2021.