Tehran, Iran, Sept. 29
By Milad Fashtami - Trend:
National Petrochemical Company (NPC) has requested the Iranian government to allocate $5-10 billion from the National Development Fund to finish the incomplete petrochemical projects.
Deputy Director of NPC Mohammad Hassan Peyvandi said that the money will be allocated to projects that are more than 60 percent complete, Iran's IRNA News Agency reported on September 29.
He further criticized the process of privatization in the petrochemical industry, saying that the buyers did not fulfill their obligations.
"Based on article 44 of the Constitution, the government can still take part in future investments by 20 percent," he explained, adding that the figure can reach 49 percent in the country's poor regions.
Marzieh Shahedaee, an official with the National Petrochemical Company, said on September 28 that there are ten incomplete petrochemical projects in Iran that will come on stream by the end of the next calendar year (March 20, 2016).
"Takht-e Jamshid PVC production unit, the second phase of Kavian Petrochemical Complex, the second phase of Karoun Petrochemical Complex, West Ethylene pipeline, Lorestan Petrochemical Complex, Kurdestan Petrochemical Complex, Ilam Petrochemical Complex, Mahabad Petrochemical Complex, and Hegmataneh Petrochemical Complex are among the mentioned projects," she said.
According to Shahedaee, a total number of 67 incomplete petrochemical projects will be transferred to the country's Sixth Five-year Socio-Economic Development Plan (2016-2020).