BAKU, Azerbaijan, May 27. Foreign investments in Iran's petrochemical sector have surpassed $26 billion, Hamidreza Ajami, head of the Iran's National Petrochemical Company's (NPC) investment department, told reporters, Trend reports.
He noted that the total investment in the petrochemical industry, including domestic contributions, amounts to $87 billion. This significant capital influx has bolstered Iran's petrochemical production capacity to 96 million tons annually, with expectations to exceed 100 million tons in the near future.
The NPC is actively pursuing additional investments to further expand the sector. Plans are underway to establish 61 new petrochemical plants over the next three years, aiming to add 35 million tons to the annual production capacity. These initiatives are aligned with Iran's long-term goal to increase petrochemical production to 186 million tons annually within the next decade.
Ajami highlighted that the expansion efforts are not solely focused on increasing production but also on completing the value chain within the petrochemical industry. This approach is intended to enhance the sector's competitiveness and contribute more significantly to Iran's economic development.
To note, Iran boasts a robust operational landscape with 72
active petrochemical enterprises currently engaged in production
activities. The throughput for petrochemical synthesis is
quantified at an impressive 96 million metric tons per annum.
Over the next quinquennium, the nation is poised to initiate the
deployment of 61 petrochemical facilities, backed by a substantial
capital infusion of $24 billion earmarked for this venture. The
production throughput of these enterprises is projected to attain
an annual output of 35 million tons.
It is imperative to highlight that, within the forthcoming decade,
Iran's petrochemical output is projected to escalate to a
staggering 186 million tons.
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