Azerbaijan, Baku, Feb. 15 / Trend, A.Yusifzade /
Iranian petrochemical sector produced 31.113 million tons of petrochemical products over the first ten months of the current Iranian calendar year (started March 21, 2010) Shana reported.
Earlier Iran's Minister of Petroleum Seyed Masoud Mirkazemi said that Iranian petrochemical sector has defined some projects worth $49 billion, while some of them have progressed by 98 percent.
"This amount of investment indicates that petrochemical sector will achieve its targets in the Middle East before reaching the Outlook Horizon in 2025," Mirkazemi said.
According to Mirkazemi, during the Fifth Five Year Development Plan (2011-2016), more than $200 billion would be invested in Iran's oil industry. "Even before sanctioning the Fifth Five Year Development Plan, 40 to 50 percent of the oil industry projects have concluded their contract with local banks and companies.