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Iran plans $67bn investment in petchem



Iran plans to implement 68 petrochemical projects with an investment of $67 billion, the country’s oil minister was quoted as saying in a media report.

The projects should become operational  between 2017 and 2021, added Bijan Namdar Zanganeh, according to the Iran Daily report.

Iran’s petrochemical output reached to 50 million tons in May 2017 from 40.6 million tons in May 2016, he noted.

Petrochemical exports also rose to over 17 million tons in the year to March 2017 from 12.8 million tons four years earlier, Zanganeh explained.