Iran seeks $85bn petrochemicals investment

Iran is seeking $85bn worth of investment in its under-performing petrochemicals sector, chairman of the petrochemical subcommittee of Iran’s parliament Moayed Sadr Hossein was quoted as saying by the official Fars news agency yesterday.

Iran’s National Petrochemical Company (NPC) says it wants to raise petrochemical production to 60 million tonnes annually from 45 million tonnes. The target for 2016 is to lift capacity to 50 million tonnes a year.

NPC officials say deliveries of ethane to petrochemical units will rise to 4.2 million tonnes this year from 1.4 million tonnes in 2014 due to increased production from the South Pars field.