NPC after $35bn foreign credit for petchem development

TEHRAN, Jan. 14 (MNA) – Deputy Iranian oil minister said the country’s petrochemical industry required 35 billion tons of foreign investment in order to realize the target output of 150 million tons.

Managing Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei made the remarks on the sidelines of a visit to the 13th International Oil, Gas and Petrochemical Exhibition.

“The industry needs to attract 20 billion dollars of investment in the next five years in order to accomplish incomplete projects,” stressed the official while noting that ongoing projects were 2 to 30 per cent through.

She estimated that output capacity for petrochemical products will climb to 150 million tons in the coming ten years; “to this end, approximately 35 billion dollars of foreign investment need to be attracted.”

On major priorities in credit attraction and international cooperation, deputy oil minister explained “one priority was to spare no effort in introducing capacities and, in the same line, we took part in a number of foreign seminars as well as holding conferences in Iran.”

“The main axis in introducing opportunities was to present new hubs in which Iran’s petrochemical industry sought to make advancements including Parsian, two phases of Mahshahr, Lavan, Qeshm, Jask, Chabahar in addition to southern Iranian regions.

Shah-Daei highlighted that the projects defined for the mentioned sites were among top priorities of NPC since new petrochemical and natural gas feedstock are abundantly available in southern regions.

HA/3875579

News Code 122686

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