NPC to invest $4.2 B for new petchem projects to enhance self-sufficiency
Originally posted at https://www.tehrantimes.com/
The head of Iran's National Petrochemical Company announced a $4.2 B investment in domestic projects to enhance self-sufficiency and complete the petrochemical industry's value chain. The projects, including the production of propylene, methanol, ethylene, aromatics, and butylene, have an annual nominal capacity of 3.8 MMt and a production value of $4.4 billion.
The petrochemical industry is vital to Iran's non-oil economy, representing the second-largest source of revenue after crude oil. NPC aims to increase its annual petrochemical production capacity to 200 million tons in the next decade.
Iranian Oil Minister Javad Oji revealed plans for over 100 petrochemical projects with a total investment of about $70 billion, and the goal of achieving self-sufficiency in producing petrochemical catalysts by August 2025.