Iran prepares $300-billion plan to support domestic petrochemical producers
Azerbaijan, Baku, Feb. 3 / Trend F.Milad/
A very extensive program has been approved, including allocation of up to $300 billion, to implement domestic oil and gas projects, the deputy oil minister said.
ISNA news agency quotes Abdolhossein Bayat as saying that the program is aimed to support domestic producers in the oil and gas sector.
Iran exported petrochemical products worth $11 billion in the first nine months of the current calendar year, which ended on Nov. 21, 2011, Bayat added.
He told IRNA news agency that the country's petrochemical products are exported to over 60 countries.
Bayat said earlier that the value of Iran's petrochemical exports is expected to reach $14 billion by late current year, Press TV reported.
He stressed that Iran produced more than 40 million tons of petrochemical goods in the last Iranian calendar year.
The country also exported 18 million tons of petrochemical products worth $11.6 billion last year, demonstrating a 26-percent increase compared to two years ago, he added.