28 September 2014 - 17:21
  • News ID: 225740
$40bn Needed for Petchem Projects: NPC Official

TEHRAN Sept 28 (Shana)--An investment of over $40bn is needed for 67 unfinished petrochemical projects in Iran to come on-stream, an official with the National Petrochemical Company (NPC) said.

Once completed the projects will add 60 million tons of petrochemicals to the country's production capacity, said the project manager of the NPC, Marzieyh Shahdani.
Speaking on the sidelines of the 9th Iran Plast, Shahdani said many of the unfinished projects in the country are leftovers of the 4th and 5th development plans which are now in need of investments to be completed.
She said the projects are expected to come online by the next four year at most, if the needed and timely investment is made for them.
Projects like Takht-Jamshid PVC, phase II of Kavian Petrochemical Plant, phase II of Karoun Petrochemical Plant, West Ethylene Pipeline, and petchems in the cities of Lorestan, Kurdistan, Illam, Mahabad and Hegmataneh are some of the projects which are at least 60% complete and will be launched during the current year or the following year.
She further said 25mn tons of urea will be produced by Iran when new projects come on-stream, which will make construction of downstream plants to utilize the product necessary.
Shahdani underlined the ongoing talks between Iran and the P5+1 group, and expressed hope that the negotiations will result in foreign investment and technology for the country given the petchem industry's excessive dependence on foreign technology.
The 9th International Exhibition of Plastics, Rubber, Equipment and Machinery (Iran Plast) is running at Tehran's permanent fairgrounds and will wrap up on September 29. The showcase opened on Thursday September 16 in the presence of Petroleum Minister Bijan Namdar Zanganeh and many other government officials and petrochemical industrialists.
News ID 225740

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