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]]>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.
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Speaking at a press conference, Director for Investment of National Petrochemical Company (NPC) Hossein Alimorad described the most major plans for attraction of investment to the country’s petrochemical industry saying “a contract has been recently inked with Japan’s Marubeni Corporation to reopen a 320-million-euro Line of Credit (LOC).”
The official also referred to new negotiations with yet another Japanese firm to reopen an LOC worth 640 million euros asserting “talks with the Japanese side are in final stages of drafting the contract which is estimated to be sealed within weeks.”
He also pointed to the visit of an Iranian delegation to Berlin at the invitation of Iran’s Embassy in Germany; “the trip aims to launch a fresh round of negotiations with banks, insurance firms as well as companies willing to make direct investment in the Iranian petchem industry.”
“Final agreement has been reached with Germany’s Hermes Insurance firm in the course of recent talks,” stressed Alimorad noting that the German side has agreed to take out insurance against new investments in petrochemical industries of Iran.
The NPC official also touched upon the held talks with German banks on attracting investment to the industry stating “a short-term scenario has been finalized based on which investment attraction will be performed under the guarantee of NPC as the government’s representative.”
In response to a question on the amount of investment by German companies, NPC’s director for investment said in the first step, agreement has been reached on reopening three billion euros of LOC while three to six more billion euros are expected to be opened in the second phase.
Negotiations have also been conducted with German firms on making 12 billion euros of new investment in Iran’s petrochemical industry
“Negotiations have also been conducted with German firms on making 12 billion euros of new investment in Iran’s petrochemical industry in addition to the three-billion-euro Line of Credit,” reiterated Alimorad adding “two senior officials of a giant German petchem company will soon travel to Tehran in order to finalize earlier talks as well as to evaluate NPC’s proposed economic projects.”
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Report: Facilitating investment in Iran petrochemical industry
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Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei pointed to opening and official operation of the first semi industrial polypropylene manufacturing unit in the country’s petrochemical industry saying “the new unit aims to produce an annual amount of 2.4 thousand tons of polypropylene by exploiting Iranian technical knowledge and catalyst.”
The official emphasized that Iran has attained the knowledge required to convert propylene to polypropylene for the first time; “previously, license and technical knowledge for manufacturing the strategic petroleum product was held by European companies, in particular Basel of Italy,” she told the reporters.
Shah-Daei reiterated that operation of the first semi industrial unit for production of polypropylene mainly aims to provide technical knowledge to produce new catalysts as well as novel polymer grits.
“In addition to solving processing issues in the petrochemical issues, boosting production quality and lowering energy consumption comprise other objectives pursued in the project,” added NPC managing director.
The official said development of petrochemical industry in Iran also aims to increase production capacity of propylene and polypropylene to supply feed to petchem plants; “accordingly, projects to convert methanol to polypropylene have been put on the agenda.”
Marzieh Shah-Daei said now 80 per cent of propylene production is directly being converted to polypropylene concluding “a centerpiece of the Sixth National Development Plan has been to uplift production capacity of propylene in order to feed petrochemical complementary industries.”
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