The Managing Director of Investment Department of the National Petrochemical Company (NPC) Hossein Alimorad said that Iran’s petrochemical output will hit 100 million tons by the end of 2021.
He put the output volume of petrochemical industry in 2013 at about 56 million tons which hit 64 million tons in 2017.
He further noted that Iran’s petrochemical output will hit 100 million tons by 2021. showing an eighty percent growth in production capacity of petrochemical companies.
He made the remarks in an interview with Fars News Agency on Sun. and said that the country needs making a huge investment in petrochemical industry.
Iran’s petrochemical industry will witness a significant jump by 2021 and 42 petrochemical projects will be put into operation in this period. he emphasized.
Currently. 15 petrochemical projects have been put into operation while construction operation of 27 other projects will be completed by 2021. Alimorad stated.
Elsewhere in his remarks. he put the total production value in petrochemical industry in 2013 at $16 billion. the rate of which hit $17 billion in 2017.
Iran’s production value in petrochemical industry will hit $25 billion by 2021. Alimorad added.
Iran’s petrochemical industry needs $23 billion worth of financing. he said. adding. of total $23 billion. $8 billion of which has been provided while the rest $15 billion will be provided through the capital market.