In statements to Shana, she said despite clear laws that announce 70 percent of the funds from privatization of petrochemical complexes should be returned to NPC, “unfortunately all the funds have been deposited into Treasury accounts which has deprived NPC from having access to those funds for investment in new projects”.
Stating that there are 60 unfinished petrochemical projects with various levels of physical progress from 1 to 98 percent, the NPC official noted that delayed projects have been classified based on their percentage of physical progress of which 15 projects with more than 60 percent physical progress classified as prioritized projects for implementation.
It is estimated completion of halfway projects will raise annual petrochemical production capacity from 60 million tons to 120 million tons.
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