Iran has negotiated with China to purchase the technical know-how for the production of propylene from that country, a senior energy expert informed on Tuesday.

“Iranian and Chinese officials have held talks about Iran’s acquisition of the technology of producing propylene from gas,” Planning Director of the National Iranian Petrochemical Company (NIPC) Marziyeh Shahdayee told reporters on Tuesday.

She underlined that Iran is planning to start production of propylene from smaller petrochemical units.

Earlier this month, Deputy Head of Iran-China Joint Chamber of Commerce Majid Reza Hariri announced that the trade exchange between Iran and China has increased by 30%.

“Iran’s trading with China has risen by 30%, and their economic transactions have reached $50 billion. Off course, it is possible to witness further increase in bilateral economic transactions,” Hariri said.

The Iranian official noted that Iran is importing service goods for road, power plant, petrochemicals, machinery, locomotive and wagon. China is buying Iranian gas condensations, petrochemicals, minerals, iron ore and decorative stones.

Iran is currently China’s third largest supplier of crude, providing Beijing with roughly 12% of its total annual oil consumption.

Source: Fars