Iran to Allocate 600 Million Dollars to Increase Petchem Production
TEHRAN (ANA)- Tehran is planning to invest 600 million dollars in the country's petrochemical industry in order to increase Iran's petchem output, Managing Director of the Persian Gulf Petrochemical Complementary Industries Investment And Development Group Company announced.
"New petrochemical projects with a total investment of $600 million are underway by the Persian Gulf Petrochemical Complementary Industries Investment And Development Group Company," Rashid Qanei Managing Director of the company said.
"When completed the mentioned projects are going to add 360,000 tons to the country’s petrochemical production capacity," Qanei added.
The official noted that most of the above-mentioned projects are development projects aimed at competing the value chain of the country’s petrochemical industry.
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