Iran earmarks huge petrochemical investment plans

30 November 2011: Iran has allocated $4 billion (approx 20,813 crore) to implement 13 petrochemical projects and opened $14 billion (approx 72,848 crore) credit line for 16 other projects. Totally, 69 petrochemical projects should be completed according to the Fifth Five-Year Development Plan (2010-2015). To add this, $4 billion has been allocated from the National Development Fund to 13 projects.

The country has prepared plans to gain the first rank in the region in terms of the value of petrochemical products. The country exported some 10.5 million tons of petrochemicals to 60 countries in the mentioned period of time. The exports are respectively 11 percent and 34 percent higher than the last year's figures in terms of weight and value.

Source: Zawya