Petchem output to double by 2021: Official
. Author: mbncom
A senior National Petrochemical Company (NPC) official said Iran will double its petrochemical output by the end of the Sixth Five-Year Development Plan (2021).
Speaking to Shana, Farnaz Alavi, a member of NPC's board of directors, said Iran will add 50 to 60 million tons of petrochemicals to its annual production capacity by 2021.
"The Sixth Plan has envisaged an investment of $35 billion for implementing petrochemical projects and various means have been defined for drawing the amount whose success will depend on foreign investors as well as international credit lines," she said.
Alavi added that a certain portion of the output will be used as feedstock by supplementary facilities while 40 percent-50 percent will be sold on the domestic and international market as end products.
She had earlier said that the development plan has defined 28 petrochemical projects for direct financing by foreign investors.
Ever since the removal of the US-led sanctions on Iran's vital economic sectors in January 2016, the country is seeking to position itself as the region's top supplier of highly valued petrochemical items.
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