Tehran, Iran, Jul. 7
By Milad Fashtami - Trend:
Some $33 billion is needed to be invested in Iran's petrochemical sector, in order to increase the country's output by 55 million tons, Iran's SHANA News Agency reported on July 7.
Currently there are some 71 unfinished petrochemical projects in the country. The projects are averagely 27 percent complete.
Once the projects come on stream, the country would annually earn some $26 billion.
Oil Minister Bijan Namdar Zanganeh said in September 2013 that the value of Iran's annual petrochemical output may double to $40 billion.
"For the time being, the value of domestic petrochemical products per year is about $20 billion," he said, hoping that the figure would increase to $40 billion.
"Between 1996 and 2006, the first surge in the value of petrochemical output occurred, so that the annual production increased from $1 billion to $20 billion," IRNA quoted Zanganeh as saying.
"In the second surge, the figure will reach $40 billion," he added.