German Linde Group has received green lights from Euler Hermes, a credit insurance company to become the greatest contractor of Iran’s LNG projects.

New round of Iranian officials and Germany’s Linde Group sat to discuss the LNG projects. The former had signed a deal to provide technical support for Kian Petrochemical Complex earlier and signaled its participation in country’s greatest petrochemical projects during new round of talks with the Imam Khomeini Petrochemical Complex.

New investments, technology transfer, training, and research and development projects constituted the topics of discussion. The new rise in German company’s willingness is attributed to assurances Euler Hermes Credit Insurance Co., which would provide insurance coverage to enterprises acting in Iranian setting, which would have been impossible without provisions of JCPOA.

Currently, Iranian Petrochemical Industries Co. is engaged in hectic negotiations with German banks to open a credit line worth of € 3bn to finance its highly crucial projects. In the first 11 months following JCPOA, 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.