Sixfold Rise in Zanjan Petrochem Plant Capital

Sixfold Rise in Zanjan Petrochem Plant CapitalSixfold Rise in Zanjan Petrochem Plant Capital

Zanjan Petrochemical Complex’s registered capital has experienced a sixfold increase in the past three years, which can contribute to Zanjan Province’s growth in acquiring modern technologies, the National Petrochemical Company’s director for projects said.
“In addition to the plant’s increased capital, the participation of a major shareholder in the project and using the finances of the National Development Fund of Iran hold out hope of launching the complex,” Ali Mohammad Bosaqzadeh was also quoted as saying by NIPNA on Tuesday.
Following its privatization, Zanjan Petrochemical Complex raised its registered capital from 560 billion rials ($13.3 million) to 3.5 trillion rials ($83.3 million) in two stages, which authorizes the plan to make use of NDFI’s funds. 
The plant, with a progress rate of 26%, has targeted the production of 3,000 tons of urea and 2,050 tons of ammonia per day upon its completion.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment