Overseas investment in Iran's petrochem on a record high; more than 40 projects in the making

18-Aug-08

As per the Oil ministry of Iran, the total foreign investment in the National Petrochemical Company of Iran (NPC) in the previous three years has touched a record US$4.5 bln. The senior authority said that the Iranian involvement is based on the 50-50 deals in which half of the total shares are owned by NPC and the reaming are jointly owned by the foreign companies from Philippines, Indonesia, Oman, Singapore, India, Venezuela and the United Arab Emirates. As of now, 40 plus petrochemical projects - 8 in Mahshahr Special Economic Zone, 13 projects in Pars Special Economic Zone (Assaluyeh) and 20 plus projects in other parts - are in progress across Iran and are slated to be operational in the coming years. As one of the major goals of the 2010-2015 five year developmental plan, Iran aims to produce 7.5 mln tons of methanol worth about US$1 bln.