Executive Briefings

Iran Looks to Triple Its Output of Chemicals Over Next 10 Years

Iran, seeking to triple petrochemicals production capacity within a decade, presented about 60 projects to potential investors at an event with international companies, including BASF SE, the world's largest chemical company by market capitalisation.

Once sanctions against Iran's economy end, the country will target $70bn (Dh256.9bn) in investment from companies as part of an effort to increase production capacity to 180 million metric tons a year by 2025 from 60 million currently, Mohammad Hasan Peyvandi, vice president of Iran's National Petrochemical Co., said.

“The criteria for choosing a foreign partner is for it to bring in technical know-how,” he said on the final day of a two-day conference in the Iranian capital. “For us the right combination of technology and capital to be brought in by the investor is most ideal.”

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Once sanctions against Iran's economy end, the country will target $70bn (Dh256.9bn) in investment from companies as part of an effort to increase production capacity to 180 million metric tons a year by 2025 from 60 million currently, Mohammad Hasan Peyvandi, vice president of Iran's National Petrochemical Co., said.

“The criteria for choosing a foreign partner is for it to bring in technical know-how,” he said on the final day of a two-day conference in the Iranian capital. “For us the right combination of technology and capital to be brought in by the investor is most ideal.”

Read Full Article