Official Talks about Investment Needed in Iran Petchem Industry

An official at the National Petrochemical Company (NPC) said Iran’s petrochemical industry needs an investment of US$7-US$10 billion for realization of its plans each year. The Planning and Development Manager of NPC said: “According to the forecast, US$7-US$10 billion should be invested in this industry annually.”

Hassan Abbaszadeh said since the start of the petrochemical industry in the country, about US$85 billion have been invested in this industry, adding: “New projects are on agenda for the development of the industry under the 7th and 8th development plans (March 2022-2032).”

“For the 7th plan that ends by 2027, we need an investment package of about US$37 billion, of which about US$9 billion have been spent,” he said. He went on to add: “In the last three years, we have seen that about US$3 billion have been invested annually.” - Shana