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Iran Wants to Become Petrochemical Power

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Iran expects to attract foreign investments into petrochemical projects worth $ 10 billion in the near future, Iran’s Deputy Minister for International Affairs and Trade Amir-Hossein Zamaninia said.

According to the Deputy Minister, the current financial year will be an important milestone in the petrochemical sector of Iran, Shana reports.

Iran plans to put into operation 7 petrochemical plants in the current financial year, (it began on March 21).

In the next financial year, the country will open 23 plants, and by 2021 – 34 more plants, Zamaninia said.

To complete the current petrochemical projects, about $ 20 billion is required, and for 34 new projects it will take about $ 35 billion, the Deputy Minister said.

In the coming years, the total amount of foreign investment in the oil, gas and petrochemical sectors of Iran will reach $ 50-80 billion, Zamaninia said.

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