Drilling Magazine Media Intelligence, Contextual Wisdom
TEHRAN, Jan. 01 (Shana) — Iran’s National Petrochemical Company (NPC) has said the formula used for determining price of petrochemicals will stay unchanged in Iran for at least the next 10 years.
Managing Director of NPC Marziyeh Shahdaei said on Sunday that the pricing formula will not change for at least 10 years from now.
Pricing formula is a key concern for investors in Iran’s petrochemical industry to have a lucrative investment in a ban-free Iran.
Iran can supply up to 64 million tons of petrochemicals annually which will more than double within the next 10 years, Marziyeh Shahdaei, who is also deputy petroleum minister in petrochemical affairs, said.
She said plans are under way to bring the country’s petrochemical output capacity to 100 million tons per year and 140 mt/y by 2025.
The official said foreign and domestic financing will be used for attracting the finances needed for boosting Iran’s petrochemical production capacity.