Iran allocates $6bn for petchem projects
TEHRAN, December 22, 2015
Iran's National Development Fund has allocated $6 billion for petrochemical and refinery projects, according to a report.
"Financing of projects from the fund will be expedited after SWIFT is back," Amir Hassan Fallah, director of Investment in Iran's National Petrochemical Company (NPC) was quoted as saying, in the El-Akhbar report.
Japanese, South Korean, and European firms are interested in investing in Iran’s petrochemical projects in the post-sanctions era, he said.
According to the official, following complete removal of the sanctions on banking, insurance, and transport, the petrochemical industry will experience a massive transformation.
