Zangeneh: Petrochem sector needs $50b investment

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Minister of Petroleum Bijan Zangeneh said that Iran’s petrochemical industry needs over 50 billion dollars in new investment.

Zangeneh made the remarks at the board meeting of the National Petrochemical Company (NPC).

Zangeneh anticipated that the value of produced petrochemical products would hit 18 billion dollars by end of current Iranian calendar year (March 20, 2016). He added that by next Iranian year oupt is expected to hit 22 billion dollars.

Zangeneh underscored that the NPC should properly prepare the infrastructures for the entry of the private sector to boost the productivity.

On assigning Marziyeh Shahdaei as NPC new managing director who replaced Abbas Shari-Moqaddam, Zangeneh said that he opposes gender discrimination and that Shahdaei has established a successful background during her service in the company functioning as the director of projects.

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