TEHRAN July 7 (Shana)–Iran needs to attract 33 billion dollars in investment for financing 55 million tons of petrochemical projects, a senior petrochemical official said.
Mohammad-Hassan Peyvandi, deputy head of National Petrochemical Company, said the envisaged projects would bring Iran 26 billion dollars in revenues.
He said that 71 petrochemical projects are currently under way with average progress at 27 percent.
Peyvandi said privatization of petrochemical industry has demoted NPC’s rank among world’s petrochemical companies.
He said petrochemicals account for 40 percent of Iran’s non-oil exports.
Peyvandi said 12 to 15 petrochemical projects under construction are expected to come on-stream in four years to increase Iran’s petrochemical output by 10 million tons.
Peyvandi said seven methanol projects are to be financed in Assaluyeh in southern Iran, adding that they would deliver 10 million tons of ethanol to world markets.
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