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Iranian Oil Minister: 18 Billion Dollars invested in petrochemistry in 8 years

Ahvaz, Khuzestan prov, June 12, IRNA-Oil Minister Bijan Namdar Zanganeh said here Saturday some 18 billion dollars have been invested in the country's petrochemical industry during the past eight years.

Addressing official ceremony to inaugurate five major petrochemical projects in Bandar Imam Special Economic Petrochemical Zone, near Mahshahr in this southwestern province, Zanganeh said out of the total amount, some 2.5 billion dollars are returned annually.

He added that the figure included dlrs 12 billion worth of investment in dollars and the rest in rials.

The minister said seven petrochemical projects are currently under construction through cooperation of foreign companies, adding the projects with a 2.5-billion-dollar investment show good progress.

Petrochemical projects would create more job opportunities, he said adding that the capacity of direct occupation in the projects reached from 800 in 1376 (1998) to 51,000 in 1383 (2004).

Some 570 billion dollars worth of various petrochemicals are produced in the world annually while Iran's share is less than one percent, Zanganeh noted.

He further announced that some dlrs 9.3 billion have been invested in 17 petrochemical projects which are currently under construction in different parts of the country. The projects would produce 23 million tons of various petrochemical products, he added.

Some 75 million tons of petrochemicals, worth dlrs 20 billion, will be produced in the country within the next 10 years, Zanganeh said.

... Payvand News - 6/12/05 ... --

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