Azerbaijan, Baku, Dec.28 /Trend, A.Yusifzade /
Currently some of petrochemical projects are being implemented by the National Petrochemical Company (NPC) with investments by Bank Saderat and Bank Pasargad and private sector investors. According to Article 44 of the Constitution the National Petrochemical Company will own 10-20% of each project, the head of Assemblies and Stocks Affairs at National Petrochemical Company (NPC) Morteza Rahimian was quoted by ISNA as saying.
The growth of the petrochemical industry in the country's Fifth Five-Year Development Plan (2010-2015) consists of 64 projects with an annual capacity of 50 million tons and an investment of $44 billion.
According to reports, the petrochemical projects of the plan are currently in different stages including contract signature, engineering and logistics. Iranian Minister of Petroleum has directed that financial resources needed for the project be provided by domestic and foreign banks' facilities and participation bonds.