Baku, Azerbaijan, Oct. 14
By Fatih Karimov - Trend: Sixteen petrochemical projects will come on stream in Iran by the end of the next Iranian fiscal year (March 2017).
CEO of the National Iranian Petrochemical Company Abbas She'ri Moqaddam said seven projects will come on stream in the current Iranian fiscal year, which ends in March 2016, and nine projects will come on stream in the next Iranian fiscal year, Shana news agency reported on Oct. 14.
Unfortunately, tens of petrochemical projects kicked off in the past without securing finance resources, and were left unaccomplished, he added.
Based on a plan, methanol output is projected to be increased to 25 million tons over the next few years, he said.
"In negotiations with European and Asian investors, we emphasize that financing the projects is our first priority, because the country is in an appropriate condition in terms of technology."
She'ri Moqaddam said in April that some $30 billion of investment opportunities have been identified in Iran's petrochemical sector, which will be certainly welcomed by European and Asian investors after the sanctions against the country are lifted.
In June 2014, She'ri Moqaddam said Iran plans to boost annual petrochemical production capacity to 180 million tons from around 60 million tons currently.
Edited by CN