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Iran needs $6 bln for petrochemical projects annually

Iran Materials 25 November 2011 16:55 (UTC +04:00)

Azerbaijan, Baku, Nov.25 / Trend F.Milad/

Iran should attract about $ 6 billion annually according to the Fifth Five-Year Development Plan (2010-2015) to complete 69 petrochemical projects which are underway in the country, the National Petrochemical Company's managing director said.

The country has prepared the plans to gain the first rank in the region in terms of the value of petrochemical products, the NPC director Abdolhossein Bayat told ISNA news agency.

Iran exported petrochemical products worth over $8 billion for the first seven months of the current calendar year (began on March 21, 2011). It is planned to increase the exports to $12 billion by the end of the year, Bayat said.

The country exported about 10.5 million tons of petrochemicals to 60 countries for the above-mentioned period, the NPC director Abdolhossein Bayat told Mehr news agency.

The exports hit 11 percent and 34 percent more than last year's figures in terms of weight and value, Bayat added.

Bayat said in July that Iran produced more than 40 million tons of petrochemical goods last Iranian calendar year.

The country also exported 18 million tons of petrochemical products worth $11.6 billion last year, showing a 26-percent increase compared to 2009, he added.

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