TEHRAN, May 08 (Shana) – Managing Director of National Petrochemical Company (NPC) says Iran will need 27 billion dollars in foreign investments to complete its half-finished petrochemical projects.

Addressing reporters on the sidelines of the 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals, Marziyeh Shahdaei said the country has 55 major petrochemical projects that are yet to become operational of which 10 will come on-stream by the end of the current Iranian calendar year to March 20 2016.

The 10 projects will add 8 million tons to Iran’s annual petrochemical production capacity, she added.

The NPC chief further said that Iran sale of petrochemical items fetched Iran some $14b over the course of the past calendar year of which $4b was earned from exporting petrochemicals.

Shahdaei also said that Iranian petrochemical plants produced 46.3 million metric tons of items over past year, up 4% year-on-year.

The 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals will run through May 8 at Tehran’s permanent fairgrounds. Nearly 2,000 exhibiting companies from 38 countries have put their latest oil and gas achievements on public display at the showcase.

By SHANA