Iran needs to attract $33 billion investment to finance 55 million tons of petrochemical projects.
Deputy Head of National Petrochemical Company Mohammad-Hassan Peyvandi said this, adding that the anticipated projects will earn the country $26 billion in revenues.
Peyvandi noted that 71 petrochemical projects which have already started, averaging 27% completion; and 2 to 15 petrochemical projects under construction are expected to be operational in four years to boost Iran’s petrochemical output by 10 million tons.
Although Petrochemicals account for 40 % of Iran’s non-oil exports, Peyvandi maintains that the privatization of the petrochemical sector has led NPC to drop in rank among world’s petrochemical companies.
He said an additional 10 million tons of ethanol will be added to the world markets from seven new methanol projects in Assaluyeh, southern Iran.
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