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Iran Islamic Republic of : $50 Billion to Be Invested In Petrochemical Sector.

Deputy minister of petroleum for petrochemicals, Abdolhosain Bayat says 50 billion dollars will be invested in petrochemical industry over the fifth five year plan up to 2015, half of them in Boushehr province south of Iran.

Addressing inauguration ceremonies of a petrochemical project (butane-1), Abdolhosain Bayat said during the year dubbed the Year of National Production, Supporting Iranian Labor and Capital more jobs would be created in the sector.

Referring to existence of extensive potentials in petrochemical industry, Bayat said the industry enjoys value-added possibilities so that investment in the sector would be beneficial.

Alluding butane-1 project start-up, the official noted that the product is a valuable and not abundant product which the country imported until last year adding not only the project will meet domestic needs but will turn the country into an exporter of the product.

Last year the value of petrochemical exports stood at 14 billion dollars while the weight of it reached 43 million tons out of which 18 million tons were exported , Bayat noted.

Regarding widespread investment potentials in petrochemical industry, National Petrochemical Company (NPC) is ready to support those who are interested to invest in the sector Bayat concluded.

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Publication:Mena Report
Date:Apr 12, 2012
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