Iran to inaugurate 7 petrochemical projects by March

Business Materials 17 June 2015 18:06 (UTC +04:00)

Tehran, Iran, June 17

By Mehdi Sepahvand - Trend:

Six to seven petrochemical projects are going on stream by the end of the current Iranian fiscal year (ending March 20), Marzieh Shahdaei, director of projects of Iran 's National Petrochemical Company said.

The official said the projects would have an output of 2.7 million metric tons per annum, SHANA news agency reported June 17.

In the next Iranian fiscal year eight other projects will turn operational with a total output of 5.8 million metric tons per year, she added.

According to the official, completing the projects has been prioritized based on their current percentage of accomplishment.

She said 60 unaccomplished petrochemical projects need $33.4 billion investment to come on stream. When these are accomplished, Iran 's petrochemical output will double, she said.

Iran's petrochemical sales have grown 36 times greater than 25 years ago.

The country's annual petrochemical production is expected to hit 50 million metric tons for the current Iranian fiscal year.

The number for last year increased by 10 percent compared to the preceding year, rising from 40.5 million metric tons to 44.5 million.

Iranian Deputy Oil Minister Abbas Sheri Moqaddam said on April 13 that some $30 billion of investment opportunities in Iran's petrochemical sector have been identified, which will be certainly welcomed by European and Asian investors if the sanctions against the country are lifted.

Edited by CN

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