60 petrochemical projects have been introduced to domestic banks as opportunities for investment, managing director of the National Petrochemical Company (NPC), Abdolhosain Bayat said.
Speaking to Shana reporter, Mr. Bayat said that petrochemical sector needs 50 billion dollars investment to achieve its goals under the fifth five year development plan’s terms.
He went on to say that if this amount does not materialize through investments by agent banks and investors, the projects won’t come online on schedule.
Stating that 6 billion dollars should be invested in petrochemical sector annually, the official noted that meeting financial needs is one of most concerns of the sector.
Referring to slow process of reviewing petrochemical projects by banks, Bayat said it is expected related banks to speed up the process to prevent inflicting damage to the projects.
‘Investment in petrochemical sector and comprehensive support of the sector is a clear sign of implementation of the Supreme Leader’s remarks on national production and supporting Iranian labor and capital’ NPC’s managing director noted.
‘Expanding basic petrochemical products variety from 25 to 85 and completion of value chain of the petrochemical products are among the other plans of the petrochemical industry during the fifth five development plan up to the 2015’ the official noted.
Creating five petrochemical hubs in Chabahar, Sarakhs, Lavan, Qeshm and Kish along with building petrochemical centers, at first in Assaluyeh and Mahshahr south of Iran, are among the other investment opportunities in petrochemical sector, Bayat concluded.