Once sanctions against Iran's economy end, the country will target $70bn (Dh256.9bn) in investment from companies as part of an effort to increase production capacity to 180 million metric tons a year by 2025 from 60 million currently, Mohammad Hasan Peyvandi, vice president of Iran's National Petrochemical Co., said.

“The criteria for choosing a foreign partner is for it to bring in technical know-how,” he said on the final day of a two-day conference in the Iranian capital. “For us the right combination of technology and capital to be brought in by the investor is most ideal.”

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