Managing Director of National Petrochemical Company (NPC) said the company has devised some 28 new petrochemical plants to be fed by the country's vast oil and gas reserves.
Speaking on the sidelines of the 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals at Tehran's international fairgrounds, Marziyeh Shah-daei said the company acts as a supervisor of the petrochemical sector of the country and does the planning and policy making for the sector.
She said the country produced 46.3 million tons of petrochemical items over the course of the pas Iranian calendar year to March 19, 2016, up 4% year-on-year. The production came from 60mt of production capacity.
The official added that Iran earned $9.4b from the export of petrochemicals during the year.
She further added that Iran will need at least 41 billion dollars in investments to complete 55 unfinished petrochemical projects to double its output by 2020.
Besides, she added, NPC has devised another 28 projects with an estimated investment of 32 billion dollars for production of urea, ammonia, GTO and GTP.
Enhancement of infrastructures is one of NPC's chief agendas now that US-led sanctions have been removed in order to prepare the country for the second petrochemical leap in its history, Shah-daei said.