28 Mar 2024
Saturday 25 April 2015 - 14:59
Story Code : 162019

$30b needed for Iran petchem plants

TEHRAN April 25(Shana)--Iranian minister of economy and finance has said that some $30 billion is needed for completing under-construction petrochemical plants.

Petrochemical plants currently under construction need around $30 billion in hard currency, Ali Tayyeb-Nia said.

He added that the balance of National Development Fund of Iran (NDFI), Irans sovereign wealth fund, is not enough to provide this sum.

Iran is expected to earn $32 billion from domestic sale and export of petrochemical products this calendar year to March 2016.

Iran is expected to sell 32 million tons of petrochemicals on domestic markets for $22 billion.

Irans petrochemical exports are expected to reach 16 million tons.

Iran is currently producing 44 million tons of petrochemicals while the countrys production capacity stands at 60 million tons.

By SHANA
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