Iran Eyes $40b FDI in Petchem Industry by 2022

Iran Eyes $40b FDI in Petchem Industry by 2022
(Sunday, May 7, 2017) 00:44

TEHRAN (NIPNA) -- Iranian Minister of Petroleum Bijan Zangeneh said Iran has envisioned attraction of 40 billion dollars in foreign direct investments in petrochemical industry under the 6th 5-year development plan of the country to 2022.

 

Addressing an oil conference here in Tehran on Saturday, the official said over 5 million tons has been added to the country’s annual petrochemical production capacity under the administration of President Hassan Rouhani which took office in 2013. 

The boost, he said, came from inauguration of several petrochemical projects including Ilam, Lorestan, Mahabad and Sanandaj over the past 3.5 years.

The official further said that Pardis Urea and Ammonia Unit with 1.7 mt/y of capacity and Kaven Metanol Plant with 2.3 mt/y of production capacity will come online adding 9 mt/y to the country’s production capacity. 

He also said Marjan Petrochemical Project will also come online by summer adding another 1.6 mt/y to Iran’s production capacity.
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