A senior petrochemical official says Iran will be targeted by foreign investors, mostly Europeans, in the second half of 2016. Isa Mashayekhi, managing director of Iran International Petrochemical Company, said investments in Irans petrochemical sector have been seriously impacted by the sanctions whose removal will boost the industry in Iran. "Once JCPOA is implemented, the effect of the sanctions, as a negative factor on investments, will be eliminated," he added. "We believe that European countries are still weathering the impacts of the 2008 recession and would surely opt for less risky investment opportunities," he said. He further underlined Persian Gulf Holding Company as a petrochemical giant in Iran whose massive coffers must been seen by foreign investors as a guarantee for ensuring safety of their investments in Irans petrochemical sector. Persian Gulf Holding governs fifteen state-run petrochemical companies: Bandar Imam Petrochemical Plant, Arvand Petrochemical Plant, Shahid Tondguyan Petrochemical Plant, Bou Ali Sina Petrochemical Plant, Fajr Petrochemical Plant, Khuzestan Petrochemical Plant, Petrochemical Non-Industrial Operations Company, Rah Avaran Fonoun Jonoub Company, Nouri Petrochemical Company, Pars Petrochemical Plant, Mobin Petrochemical Plant, Pazargard Non-Industrial Operations Company, Petrochemical Industries Development Management Company, Petrochemical Commercial Company and International Petrochemical Company. Seven subsidiaries of Persian Gulf Holding are producers, two are utility procurers and the rest are commercial companies.