Petrochemical Ventures Awaiting Investments

A total of 63 plans with a progress rate of 60-90% are under construction in the petrochemical industry, the head of board of directors at Iran’s Association of Petrochemical Industry Corporation said.
“To complete the ventures, $25 billion in financial resources are needed,” Morteza Azizi was also quoted as saying by Mehr News Agency on Tuesday.
Azizi was speaking on the sidelines of the First Vice President Es’haq Jahangiri’s meeting with Oil Minister Bijan Namdar Zanganeh, Governor of the Central Bank of Iran Valiollah Seif and petrochemical officials.
"A total of 42 other plans are to become operational based on the Sixth Five-Year Development Plan [2017-22], which require $58 billion in investment," he said, stressing that with the launch of the projects, Iran’s annual petrochemical production capacity will reach 230 million tons.