An official at the Irani state-run National Petrochemical Company (NPC) said that Iran is seeking investment to build 25 petrochemical projects.
Shell signed a preliminary memorandum of understanding (MoU) with Iran's National Petrochemical Company in order to cooperate in the petrochemical industry.
Egyptian President Abdel Fattah El Sisi launched the petrochemicals complex of Egyptian Ethylene and Derivatives Company (Ethydco) in Alexandria in mid August with a total investment of $1.9b.
Iran is to commence several petrochemical projects with $5.4b worth of investment by March 21st, 2017 and the annual value of the country's petrochemical products would increase by $5.1b.
Egypt has agreed preliminary deals with Kuwaiti companies for the establishment of petrochemical projects worth $6.8 billion, the government said on Sunday.