MNA reported that the National Development Fund of Iran has allocated USD 3 billion for financing petrochemical projects.
IRNA report said that the sum will be channeled into 11 petrochemical projects, mainly in the west and the south of the country.
On December 24th, Mr Ehsan Sharifi deputy director of NDF said that about USD 43 billion has been deposited in the fund so far. Iran transfers 20% of its oil revenues to the NDF.
Mr Mahmoud Ahmadinejad President of Iran said that the NDF’s assets would hit USD 55 billion by the end of the current Iranian calendar year, which ends on March 20th 2013.
Mr Abdolhossein Bayat MD of National Petrochemical Company said that Iran plans to boost petrochemical production by 12 million tonnes by the end of spring next yea.
In November, Mr Bayat said that about USD 80 billion in investment opportunities have been identified in both the upstream and downstream sectors of the Iranian petrochemical industry, which is taking great steps toward development.
He said that China and countries in Western Europe are the main recipients of Iran’s petrochemical exports, followed by countries in Southeast Asia, the Middle East, the Indian subcontinent, Africa and Latin America.
Iran is seeking new markets for its petrochemical products. Toward this end, the NPC has been identifying new export targets for the past two years and boosting exports of polymer products is on the agenda.
In April, he added that Iran exported USD 14 billion worth of petrochemical products to 60 countries during the previous Iranian calendar year. USD 10.5 billion of oil revenues will be allocated for the development of the national petrochemical industry.
