South Africa-based petrochemical producer Sasol to continue investing in Iran despite reports that company could divest amid risk of sanctions, according to new report
December 24, 2012
(Iranian Government News)
– The IRIB has issued following news: A report says South African petrochemicals group Sasol will continue investing in Iran, despite news last month pointing to the company’s potential disinvestment due to a possible risk of sanctions.
Eric Roper, managing director of Aryasasol Polymer Company, a joint venture between Iran's Pars Petrochemicals Company and Sasol Polymers, a subdivision of Sasol’s chemical cluster, told Fars News Agency on Sunday, that the company “is satisfied with investment in Iran, and does not have any intention of leaving.” The products of the joint venture -- ethylene and polyethylene -- are used in the production of plastics.
Roper also rejected news about the company’s potential divestment.
In October, Sasol said in a filing to the United States Securities and Exchange Commission that due to the company’s investments in Iran, there was a possible risk that sanctions may be imposed on it by the United States, the European Union, and the United Nations.
The illegal US-engineered sanctions against Iran were imposed based on the unfounded accusation that the Islamic Republic is pursuing non-civilian objectives in its nuclear energy program.
Iran argues that as a signatory to the nuclear Non-Proliferation Treaty and a member of the IAEA, it is entitled to develop and acquire nuclear technology for peaceful purposes. For more information please contact: firstname.lastname@example.org