Iran says it will need at least 55 billion dollars in investment in its petrochemical sector to bring its annual output to 150 million tons from the current 60 mt/y production capacity within the next 10 years.
Managing Director of the National Petrochemical Company (NPC) Marziyeh Shahdaei has said Iran will need $20b in fresh investment in order to finish its unfinished projects by the next 5 years, adding the project have made 2 to 30% physical progress so far.
She said based on NPC’s plans, the country’s petrochemical output will reach 150 million tons per year within the next 10 years and for realization of the plans, Iran will need an investment of at least 55 billion dollars.
Iranian petrochemical plants can supply 64 million tons of petrochemicals annually but the capacity is estimated to cross 100 mt/y within the next 5 years.
The country is also planning to more than triple its petrochemical output and bring it to 180 mt/y by 2025.