BAKU, Azerbaijan, February 13. The commissioning of 28 facilities at the Asaluyeh and Kangan petrochemical complexes in Iran will amplify the country's petrochemical production potential by 37 million tons, Deputy Minister for the Petrochemical affairs, Head of the National Petrochemical Company (NPC) Hassan Abbaszadeh told reporters, Trend reports.
He pointed out that a total of $30 billion will be invested in the project.
Abbaszadeh said that currently, 48 percent of Iran's petrochemical production potential is located at the Asaluyeh petrochemical complex, with approximately $40 billion invested in this regard.
The deputy minister also mentioned that over 85 percent of Iran's petrochemical companies are under the control of pension funds, and the entire population benefits from this.
The official added that environmental protection stands on the agenda of Iran's petrochemical companies.
To note, Iran currently has 72 petrochemical enterprises. The potential of petrochemical production is 96 million tons per year.
In the next five years, 61 new petrochemical plants will be established with an investment of $24 billion, increasing production potential by 35 million tons annually.
To note, Iran aims to increase its petrochemical production to 186 million tons over the next decade.
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