BAKU, Azerbaijan, September 24. In total, about $9 billion was spent within the plan for the development of the petrochemical sector in Iran over the past 3 years (March 21, 2019 through March 20, 2022), Director of the Planning and Development Department of the Iranian National Petrochemical Company (NPC), Hassan Abbaszadeh said, Trend reports citing the company’s website.
The director noted that by March 20, 2027, a total of $37 billion is to be spent for the development of Iran’s petrochemical sector within the mentioned plan. Thus, $7-$10 billion annually is estimated to be spent in this regard.
“In general, about $85 billion has been spent on Iran’s petrochemical sector over the past years,” he added.
According to Abbaszadeh, the National Petrochemical Company has prepared plans for the domestic production of 20 new petrochemical products in the country. In this regard, the country's petrochemical companies should submit their programs to the NPC.
Abbaszadeh said that about $3.3 billion is needed to implement the mentioned plans.
“The new petrochemical products planned to be manufactured domestically are acrylate acid, EPDM, oxide polypropylene and other products, which Iran spends more than $1.5 billion on importing,” he pointed out.
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