10mty rise in petchem production capacity by 2017
Iran will see its petrochemical output rise by 10 million tons per year by the end of first term of President Hassan Rouhani in 2017, a petrochemical official said.
Reporting to media, Hamid Reza Rostami, director of planning at National Petrochemical Company (NPC), told that 28 projects from 55 unfinished petrochemical projects will come online by the end of the 6th five-year development plan in 2021 which will require $36b in investments.
He said $73b is needed for funding all the 55 projects.
He said a number of petrochemical projects will come on-stream during the next Iranian calendar year which begins on March 21.
Rostami said NPC welcomes partnership with foreign investors who enjoy the latest technologies and have a full grasp of the market.
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About NPC:
The National Petrochemical Company (NPC), a subsidiary to the Iranian Petroleum Ministry, is owned by the government of the Islamic Republic of Iran. It is responsible for the development and operation of the country’s petrochemical sector. Founded in 1964, NPC began its activities by operating a small fertilizer plant. Today, NPC is the second largest producer and exporter of petrochemicals in the Middle East .Over these years, it has not only expanded the range and volume of its products, but it has also taken steps in areas such as Research and Technology to achieve more self-sufficiency.
