The 10th International Petrochemical Industry Conference, held at the Iranian capital city of Tehran, was attended by around 36 foreign and 210 Iranian petrochemical companies.
The agenda of the two-day conference was centered on setting up of petrochemical parks, investment opportunities, advanced petrochemical technologies, the development trends of petrochemical industry in Iran and Asia, and the role of privatization in petrochemical industry. Speaking at the forum, Rostam Ghasemi, Petroleum Minister of Iran, said the petrochemical industry has had a significant growth in recent years. Iran holds around 16 percent of total world’s gas reserves, of which presently 700 million cubic meter is being produced and experts state that this figure will reach to over one billion cubic meter. Currently, the petrochemical industry of Iran has 45 petrochemical complexes that are active and other 60 under construction, Mr. Ghasemi added.
At the conference, it was announced that Iran’s National Development Fund will be financing 20 petrochemical complexes and other 15 complexes will be funded by foreign investors.
The Iranian Petroleum Minister said Iranian contractors and manufacturers are now capable of taking up large scale projects as the country is no more in need of any equipment imports.
