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.
The Managing Director of the National Petrochemical Company (NPC) Marziyeh Shahdaei has said Iran will need $20 billion 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.
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)
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