Iran Petchem Industry in Need of $55b Investment in 10 Years
TEHRAN, Jan. 14 – Iran says it will need at least 55 billion dollars in investment in its petrochemical sector to bring its annual output to 150 million tons from the current 60 mt/y production capacity within the next 10 years.
Managing Director of the National Petrochemical Company (NPC) Marziyeh Shahdaei has said Iran will need $20 in fresh investment in order to finish its unfinished projects by the next 5 years, adding the project have made 2 to 30% physical progress so far.
She said based on NPC’s plans, the country’s petrochemical output will reach 150 million tons per year within the next 10 years and for realization of the plans, Iran will need an investment of at least 55 billion dollars.
Iranian petrochemical plants can supply 64 million tons of petrochemicals annually but the capacity is estimated to cross 100 mt/y within the next 5 years.
The country is also planning to more than triple its petrochemical output and bring it to 180 mt/y by 2025.
Source: Shana
About National Petrochemical Company (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.
