Latest Petrochemical News at the End of Iranian Year

Latest Petrochemical News at the End of Iranian YearIt seems that all news published by the official news agency of the NIPC are good news. Of course, we doubt they publish news against their own benefits. The following news are 3 picked up and checked news for our readers. The Iranian new year starts at 19:45;28 on Tues. March 20th 2018. PIMI will publish another article to show why the start of the new year in Iran is so fine even with seconds:

1- President Rouhani’s administrative Bakup for Iranian Petrochemicals.

Mohammad Bagher Nobakht, addressing a weekly press conference on Tues. March 13th, told reported: “Although most sectors of the petrochemical industry have been privatized, the government supports the industry through various means, including the National Development Fund or through the Economic Council.”

He said the administration will tap such resources in order to finance petrochemical projects or facilitate attraction of fresh investment in the sector.

Iranian petrochemical plants exported over 20.2 million tons of products by the end of Bahman (11th month in Iranian calendar, January 21-February 19), generating a nearly 11 billion dollars in revenue.

The plants operating at Pars Special Economic Energy Zone in southern Iran supplied over 10.2 million tons of items during the period worth roughly 5.2 billion dollars during the period.

Also the facilities operating in Mahshahr Petrochemical Zone, southwestern Iran, supplied over 5.5 million tons of petrochemical valued at around $3b.

The plants being run in other parts of the country also supplied 4.4 million tons of items with an estimated value of $2.3b during the same period.

Zagros Petrochemical Plant was the most prolific petrochemical facility with 2.6 million tons of export, while Noori Petrochemical Company was Iran’s most lucrative petrochemical plant by generating $1.6b of revenue during the period.

2- Iran Petchem Exports nearly $11 bn in 11 Months

Iranian petrochemical plants exported over 20.2 million tons of products by the end of Bahman (11th month in Iranian calendar, January 21-February 19), generating roughly 11 billion dollars.

The plants operating at Pars Special Economic Energy Zone in southern Iran supplied over 10.2 million tons of items on international markets during the period worth roughly 5.2 billion dollars during the period.

Also the facilities operating in Mahshahr Petrochemical Zone, southwestern Iran, exported over 5.5 million tons of petrochemical valued at around $3b.

The plants running in other parts of the country also supplied 4.4 million tons of items with an estimated value of $2.3b during the same period.

Zagros Petrochemical Plant was the most prolific petrochemical facility with 2.6 million tons of export, while Noori Petrochemical Company was Iran’s most lucrative petrochemical plant by generating $1.6b of revenue during the period.

3-  Chinese finances up for Grabs in Iran Petchem Projects: Official

Chinese investors are ready to join petrochemical projects in Iran provided that Iranian banks absorb the finances, the vice president of the Iran-China Chamber of Commerce says.

Speaking to NIPNA, Majid Reza Hariri said, “The Chinese are ready to finance development projects in Iran, including those in the petrochemical sector, if the Iranian banks can receive the finances.”

Hariri said China’s finance is ready for Iran and private and public sectors have the option to use it, but from about $ 20 billion in new financing with China, the absorption rate is not significant.

Describing the reasons for not attracting China’s finance in the projects by domestic and foreign developers, he stated: “To use finances in each project, 15% of it must be provided by domestic resources, and the average figure of $20 billion in foreign financing is about $3 billion. There are limitations on domestic funding resources for supplying this amount.”

Hariri pointed out that for the use of finances, domestic investors should be able to attract credit from Iranian banks and secure collateral for the credits; for example, to attract $100 million, the project should secure $15 million in domestic funding and $85 million in collateral.

Latest Petrochemical News at the End of Iranian Year

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