Bid & Tender
Iran Petrochemical Industry Needs $50b Investment: Zangeneh

Date : Feb 15, 2016

Minister of Petroleum Bijan Zangeneh said that Iran’s petrochemical industry needs more than 50 billion dollars in investment as the figure by end of current year (March 20) will amount to 18 billion dollars.


Speaking at the board meeting of the National Petrochemical Company (NPC) on Saturday evening to mark services of its outgoing managing director, the minister also said that petrochemical output by 2018 will hit 22 billion dollars, or 50 percent up the basic price.


He said that private sector shall be assisted to invest in the industry’s down- and mid-stream sectors so that the country’s petchem industry will be boosted.


On assigning Marziyeh Shahdaei as NPC new managing director who replaced Abbas Shari-Moqaddam, Zangeneh said that he opposes gender discrimination and that Shahdaei has established a successful background during her service in the company functioning as the director of projects.