Iran’s petrochemical output shows 75 % growth

Jul 04, 2004 02:00 AM

The total petrochemical production in the country is predicted to reach 14.6 mm tons up to March 2005, the National Petrochemical Company announced. According to an NPC report, the petrochemical output shows a 75 % growth compared to the preceding year.
Iran is making preparation to attract around $ 11 bn in domestic and foreign investments on a joint venture basis in the country's fourth development plan (2005-2009).

The state National Petrochemical Co. projects the total investment in the course of the current third development plan (2000-2005) will amount to around $ 10 bn.
The bulk of the investment will be in the Persian Gulf port of Assaluyeh (Pars special economic energy zone), Bushehr province, close to the giant South Pars gas field. There are major 10 projects under way now.

Iran considers the petrochemical sector the key element of its drive to raise its non-oil income by relying on its vast natural gas reserves as feedstock ranked second in the world after Russia.
In its drive to expedite the development of the sector, the state National Petrochemical Co. pledged to provide both local and foreign investors with their needed natural gas at an affordable rate.

Source: Tehran Times
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