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Iran allocates $3.6 billion to petrochemical sector

5:05 AM MST | January 9, 2013 | Francinia Protti-Alvarez

Iran’s National Development Fund (NDF; Tehran) has allocated $3.6 billion to a total of 11 petrochemical projects, various Iranian news agencies report. Abdolhossein Bayat, managing director of National Petrochemical Co. (NPC; Tehran), says Iran plans to boost petrochemical production by 12 million m.t./year by the end of spring 2014, the reports say. According to the Fars News Agency, Bayat stated that out of the 70 petrochemical projects in Iran's Fifth Five-Year Economic Development Plan (2010-15), "so far, 17 petrochemical projects, worth $6...

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