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April 14th, 2016 
Awake Goy
TEHRAN, April 13 (Shana) –- Iranian Minister of Petroleum Bijan Zangeneh called on foreign companies in invest in Iran’s petrochemical sector, saying that the country is in a suitable state regarding supply of feedstock to petrochemical plants.
Addressing the opening ceremony of Iran Plast Exhibition in Tehran on Wednesday, the Iranian official said the 10th Iran Plast fair is being held at a time that sanctions are lifted and Iran’s petroleum industry is about to implement the policies of the Economy of Resistance as instructed by the Supreme Leader.
“Curbing sale of crude oil and completing value chain in downstream industries with the aim of generating value added is arguably the most important clause of the Economy of Resistance,” he said.
He said the first leap in Iran’s petrochemical sector took place in the 90s under the administration of reformism.
Back then, Iran’s petrochemical output valued at about a billion dollars which has climbed to over $20b per year which is expected to double in less than five years provided that the country launches several of the major petrochemical projects it has at hand by investing at least $50b in the sector, he said.
He said Iran is in a suitable state regarding supply of gas as petrochemical feedstock, adding the country can also supply enough ethane and liquefied petroleum gas (LPG) to the plants as it has launched major gas projects for example in South Pars gas field, which can supply up to 14 million tons of LPG per year.
“I, hereby, invite all foreign investors to joint downstream and midstream projects in Iran’s petrochemical industry,” he said.
He said the Ministry of Petroleum offers special support for methanol to propylene projects.
“We are interested to form 6 or 7 petrochemical hubs for conversion of natural gas to propylene across the country with the cooperation of private sector investors.”
He said National Petrochemical Company (NPC) has taken major steps in generation of methanol to propylene knowhow and Iran has new plant to expand Assaluyeh and Mahshahr petrochemical hubs southern Iran.
By SHANA
Source Article from http://theiranproject.com/blog/2016/04/14/iran-ok-petchem-feedstock-supply-zangeneh/
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