Iranian private sector’s debt to state-owned petrochemical company hits $3.28B
Tehran, Iran, Oct. 15
By Milad Fashtami - Trend:
Iran's private petrochemical complexes owe some 105 trillion rials (some $3.28 billion based on the exchange rate of USD at the free market) to the state-owned National Petrochemical Company.
Deputy Oil Minister of Iran Abbas Sheri-Moqadam said that the government supports the private sector, Iran's IRNA News Agency reported on October 14.
"We don't intend to shut the complexes down by insisting on receiving the money," he said.
"We can reach an agreement with the private sector to consider the debts as loans with interest. Then the petrochemical complexes can sell their products and pay the installments," he added.
Iran's total petrochemical production is expected to reach 44 million metric tons by the end of the current Iranian calendar year (March 20, 2015).
Ali Mohammad Bosaqzadeh, an official with the National Petrochemical Company (NPC) said that the country's nominal production capacity is 54 million metric tons.
Iran will launch 6 new petrochemical complexes by the end of the current calendar year (March 20, 2015).
Once the projects come on stream, the country's total petrochemical production capacity will be increased by 2 million metric tons.
Marzieh Shahedaee, an official with the NPC, 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).