Iran needs $20B to finish uncompleted petchem projects
Tehran, Iran, Jan. 12
By Mehdi Sepahvand, Dalga Khatinoglu – Trend:
Iran needs $20 billion to complete the current petrochemical projects under development, Director of the National Petrochemical Company Marzieh Shahdaei said Jan. 13.
She added that the current projects have been developed by 2 to 30 percent, projected to be completed in next five years.
Shahdaei said on the sidelines of the Kish Energy Exhibition that in total, Iran needs $55 billion investment in next 10 years to increase the petrochemical production capacity from the current level of 62 million tons to 150 million tons per year, Trend’s correspondent reported from Tehran.
During 2016, Iran produced about 49.097 million tons of petrochemicals, according to an official document prepared by Iran's Oil Ministry and seen by Trend.
Despite working at 74 percent of nominal capacity, Iran’s petrochemical plants increased production by 9.4 percent in 2016 as compared to 2015.
According to statistics, the feedstock shortage has about 44 percent share of Iran’s idle petrochemical production capacity.