TEHRAN Sept 29 (Shana)–Iran’s National Petrochemical Company (NPC) will invest in strategic projects to hasten their fulfillment in a bid to expand the country’s petchem industry, a deputy head of NPC said.
Mohammad Hassan Peyvandi said the company is legally allowed to have a 20% share in petrochemical investments which can rise to 49% in under-developed and deprived regions.
Speaking on the sidelines of the 9th Iran Plast exhibition, he said the NPC prioritizes projects with at least 60% progress for funding, and noted his call to the government cabinet to allocate IRR5 to 10 billion to the NPC to complete the hasten the projects’ fulfillment.
Over 67 unfinished petchem projects await investments to complete in Iran. Among the projects are Takht-Jamshid PVC unit, phase II of Kavian Petrochemical Plant, phase II of Karoun Petrochemical Plant, West Ethylene Pipeline, and petchem plants in the cities of Lorestan, Kurdistan, Illam, Mahabad and Hegmataneh.
Iran’s ethylene output will rise 1.2mn tons to reach 5.2mn tons a year once phases 15, 16, 17 and 18 of the giant South Pars gas field come on-stream, noted the NPC official.
The 9th International Exhibition of Plastics, Rubber, Equipment and Machinery (Iran Plast) is running at Tehran’s permanent fairgrounds and will wrap up on September 29. The showcase opened on Thursday September 16 in the presence of Petroleum Minister Bijan Namdar Zanganeh and many other government officials and petrochemical industrialists.
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