(MENAFN) Iran is fully prepared to double its petrochemical production by the end of the Sixth Five-Year Development Plan (2021), as revealed by the latest reports.
In detail, the nation will add 50-60mn tons of petrochemicals to its annual production capacity by 2021, based on the National Petrochemical Company's data (NPC).
The Sixth Plan has envisaged an investment of USD35bn for applying petchem schemes, plus 28 projects has been defined for direct financing by foreign investors.
Furthermore, ever since the elimination of the US-led sanctions, the Islamic Republic is seeking to position itself as the region's top supplier of highly valued petrochemical items.
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