TEHRAN- Iran’s output of petrochemical products stood at over 37.6 million tons during the first nine months of the current Iranian calendar year (March 20-Decemebr 20, 2016), Shana reported citing Iran’s National Petrochemical Company (NPC).

According to NPC Managing Director Marziyeh Shahdaie, Iran is producing 65 million tons of petrochemical products annually and the country plans to triple its installed capacity of petrochemical complexes in the next ten years.

“Iran has reached 70 percent self-sufficiency in manufacturing equipment needed in petrochemical industry,” Shahdaie has stated.

The country needs $20 billion of investment for completion of unfinished petrochemical projects across the country in 5 years, the official said last August.

After the implementation of Iran nuclear deal, NPC has received high willingness from European companies for cooperation with Iran in the petrochemical sector both in financing and licensing, Farnaz Alavi, the NPC director for planning and development, announced last month.

MA/MG