24 September 2022 - 12:40
  • News Code: 462394
$7 to $10b Investment Needed in Iran Petchem Industry: Official

TEHRAN (Shana) – An official with the National Petrochemical Company (NPC) says Iran’s petrochemical industry needs an investment of 7 to 10 billion dollars for realization of its plans each year.

The Director of Planning and Development of NPC said: “According to the forecast, 7 to 10 billion dollars should be invested in this industry annually.”

According to NPC, Hassan Abbaszadeh, who was speaking on the sidelines of the 16th Iranplast Exhibition, said since the start of the petrochemical industry in the country, about $85 billion have been invested in this industry, adding: “New plans are on the agenda for the development of the industry under the 7th and 8th development plans.”

“For the 7th plan that ends in by 2027, we need an investment package of about $37 billion, of which about $9 billion have been spent,” he said.

He went on to add: “According to the forecast, $7 to $10 billion should be invested in this industry annually, in the last three years, we have seen that about $3 billion have been invested annually.”

News Code 462394

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