National Iranian Petrochemical Company Managing Director Abbas She’ri-Moqaddam was quoted by IRNA news agency as saying that the country’s petrochemical output will be increased to 180 million tons per year upon completion of semi-finished petrochemical projects and a number of planned petrochemical units come on stream.
"The finance required to implement the projects is planned to be secured through attracting foreign investment," She’ri-Moqaddam added.
Iran will witness two-million-ton growth in petrochemical output annually in the current Iranian calendar year, which will end on 20 March 2015, following implementation of four petrochemical plans, worth $41bn.
Due to some sanctions relief on the Islamic Republic, including the EU and US bans on the country’s petrochemical exports, the oil and petrochemical exports in Iran have increased.
