TEHRAN – Iran’s petrochemical complexes’ output stood above 42.1 million tons during the first ten months of the current Iranian calendar year (March 20, 2016- January 19, 2017), Shana reported citing Iran’s National Petrochemical Company (NPC).

According to NIPC office of public relations, the country has produced over 4.05 million tons of petrochemicals in the tenth Iranian calendar month of Dey (December 21, 2016- January 19, 2017) alone.

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,” NIPC managing Director Marzieh 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, NIPC 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 December.

EF/MA