Abbas Sheri Moqaddam

Private plants owe NPC IRR 105tr

TEHRAN Oct 15 (Shana)–Private plans owe IRR 105 trillion to the National Petrochemical Company (NPC), the head of the NPC said.
Abbas Sheri-Moqaddam, who is also a deputy petroleum minister, added that these private plants should not face closure if they are to pay back their debts.
He said that the private plants could be helped to supply products and be able to settle their debts through selling their products.
The official said that inexpert privatization in the petrochemical industry has left many projects unfinished due to the shortage of feedstock.
He said that the NPC should resume its support of petrochemical projects.

Sheri-Moqaddam said 67 petrochemical projects are waiting for finance.

Iran Petrochemical Commercial Company (IPCC) exported 838 million dollars worth of petrochemicals during the first four months of the current calendar year which started on March 21.

The exported products, weighing 831,000 tons, mainly included propane and butane.

Iran produced 40 million tons of petrochemicals in the last calendar year, with 9 billion dollars worth of its products being exported.

The country plans to increase its petrochemical exports to 12 billion dollars this year.



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