German Linde Group has received green lights from Euler Hermes, a credit insurance company which would provide insurance coverage to enterprises operating in Iran, to proceed with liquified natural gas (LNG) projects within Iran, reported Mehr News.
Iranian officials and Linde Group met to discuss the LNG projects. Accordingly, the German side signed a deal to provide technical support to Kian Petrochemical Complex and signaled its readiness to participate in the country’s biggest petrochemical projects in fresh round of talks with Imam Khomeini Petrochemical Complex. The discussions centered on new investments, technology transfer, training, and research and development projects, according to Trade Arabia.
This comes as Iranian Petrochemical Industries Company is engaged in extensive negotiations with German banks to open a credit line worth over $3b to finance its crucial projects, as German firms move forward with Iranian trade after sanction were lifted in early 2017. German giants in industry and tech, including Siemens, had commissioned with Iranian officials to participate in selling machinery and rotating facilities, investing and joint ventures with Iranian native companies.