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11.5 billion dollars to be invested in Iran's petrochemical industry in 4th plan

Tehran, May 7, IRNA-Head of the Management and Planning Organization Hamid-Reza Baradaran Shoraka said in Tehran on Saturday that about dlrs 11.5 billion will be invested in the petrochemical industry in the Fourth 5-Year Economic Development Plan (2005-10).

Shoraka told the inaugural session of the Seventh Petrochemical Forum (May 7-8) that about 29 million tons of petrochemical products, worth dlrs 9.6 billion are added to the bulk of the products marketed annually.

He said the long-term horizon provides foreign entrepreneurs with remarkable opportunities for investment in the petrochemical industry.

He added that rich gas reserves in South Pars gas field and extensive investment in the projects for development of the field present ample opportunities for investment.

Elsewhere in the interview, Shoraka said that based on the fourth (2005-10) and fifth (2010-15) five-year economic development plans, Iran's average economic growth will stand at eight percent and 8.6 percent respectively.

He said that the industry sector will also attain growth rates of 11.2 percent in the fourth and 11.1 percent in the fifth five-year economic development plans.

Shoraka stressed that based on the Fourth Five-Year Plan law, Iran's non-oil exports will show an annual growth rate of 10.7 percent reaching dlrs 12.8 billion in 2009 from dlrs 7.7 billion in 2004.

He said the figure will rise by 16.5 percent on the average annually to dlrs 23 billion in the fifth plan.

Iran's industrial exports will also show a growth of 14.8 percent on the average to dlrs 7.7 billion in 2009 from dlrs 3.8 billion in 2004, said Shoraka, adding that the exports will however register an average growth rate of 20.9 percent in the fifth plan annually, amounting to dlrs 24 billion.

Hence, the petrochemical industry's share in the exports will increase in light of implementation of the related projects, he added.

... Payvand News - 5/7/05 ... --

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