Iran (IMNA) - "Friendly countries have expressed a strong desire to make investments in Iran in order to establish petrochemical centers in Makran and Jask." One of the countries, for example, has proposed an investment of $2.5 billion. "Unfortunately, we cannot provide more details due to sanctions," he stated Monday.
Next week, Tehran will host the 14th international Iran Petrochemical Forum (IPF). The event will be attended by specialists and businesspeople from 15 nations, including Brazil, Russia, China, and other European countries, according to Shahmirzaei.
Iran now has seventy petrochemical factories operating, producing about 550 classes of goods. According to the source, 10 additional facilities will be operational by the conclusion of the current Iranian year in March 2024.
He stated that the capacity of Iran's petrochemical sector currently stands at 92 million tonnes and is expected to exceed 95 million tonnes by the conclusion of the year thanks to the launch of new projects.
Petrochemical supplies are a critical benefit to Iran's ability to withstand tough US sanctions aimed primarily at drying up the Islamic Republic's oil exports.
According to Iranian officials, the petrochemical sector is not subject to sanctions because of the large variety of petrochemical goods and the enormous global demand for them due to their high quality.
In June 2019, Washington levied its first sanctions on Iran's petrochemical sector. Purchases of Iranian aromatic, olefin, and synthesis gas, as well as any of their derivatives, such as ethylene, propylene, butadiene, benzene, toluene, xylene, ammonia, methanol, and urea, were banned.
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