Iran allocates $3.6 billion to develop petrochemical industry

9:28 AM, 10th January 2013

Iran allocates $3.6 billion to develop petrochemical industry

TEHRAN, IRAN: Iran’s National Development Fund (NDF) has allocated $3.6 billion to the development of the country’s petrochemical industry. “3.6 billion dollars will be spent to construct 11 petrochemical projects. So far, 17 petrochemical projects, worth 6 billion dollars in foreign investment, have been introduced to the NDF,” said Abdolhossein Bayat, Managing Director, National Iranian Petrochemical Company (NIPC).

Iran has expanded the range and volume of its petrochemical production significantly over the past few years, and the NIPC has become the second largest producer and exporter of petrochemicals in the Middle East.

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