BAKU, Azerbaijan, May 27. Iran requires $22 billion in domestic and foreign investment in its petrochemical sector over the next seven years, said Hamidreza Ajami, Director of the Investment Department at the National Petrochemical Company of Iran (NPC), Trend reports.
Speaking to local media, Ajami stated that an estimated $12 billion is targeted for investment over the first three years, with an additional $10 billion planned for the following four years.
He added that several ongoing projects across the country are expected to become operational by 2028, with around 40 percent of physical progress already completed. Approximately $12 billion has already been spent on these initiatives.
Ajami noted that Iran is currently working on 142 petrochemical projects.
“With a total investment of $102 billion, these projects are expected to increase the country’s petrochemical production capacity by 132 million tons,” he said.
Iran is presently engaged in the operation of 72 petrochemical
installations, boasting an annual throughput capacity of 96 million
metric tons. In the forthcoming triennium, a strategic rollout of
61 novel facilities is slated, underpinned by a substantial capital
infusion of $24 billion, poised to augment operational capacity by
an incremental 35 million tons.
The overarching strategic goal, as underscored by Ajami, is to
elevate Iran’s cumulative annual petrochemical output to a
staggering 186 million tons within the forthcoming decade.
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