Iran sets $93bn-target for investment in petrochemical sector

Iranian authorities say size of investment in downstream sections of the oil and gas industry, where petrochemicals are produced and marketed, would reach $93 billion by 2025.

Head of the National Petrochemical Company of Iran Behzad Mohammadi said on Sunday that the country had extensive plans for expansion of refining and petrochemical activity, adding that government and private investment in the sector would top 70 billion in the next two years.

The official made the remarks in a speech on the opening of Iran Plast, a leading annual fair meant for showcasing the country’s potentials and capabilities in the petchem sector.

Mohammadi said Iran would increase the number of its petrochemical complexes to 83, from the current 56, by early 2022, adding that both production and the feed used for those complexes would significantly diversify in the coming years.

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