Reza Nematzadeh, Managing Director of NPC
Negotiations are underway with Saudi
Arabia, Thailand and Japan for the participation of their companies in Iranís
petrochemical projects. Companies from South Africa, Netherlands, Sweden and
Germany have already invested in Iranís petrochemical projects with the
foreign share from three such projects amounting to Ä700 million.
Speaking in this regard, Managing
Director of the National Petrochemical Company (NPC), Mohammad Reza
Nematzadeh, said that based on NPC
policies all petrochemical projects have been implemented through foreign and
or domestic partnership as of last year.
Iranís current share of global
petrochemical production is about 0.8%, and will increase to 2.5% during the
next five years. Based on current projections, the value of Iranís
petrochemical production will reach $20 billion within 10 years.
Studies for marketing the products of
these projects have started and the countries which have a demand for
petrochemicals as well as the extent of their demand are all under
Nematzadeh further noted that about $12
billion has been invested in Iranís petrochemical projects since 1997, all of
which will be made operational either during the current year or the next.
ďPetrochemical production will increase
from 8.2 million tons in 1996 to 19 million tons by the year-end. Also,
petrochemical exports stood at about $507 million in 1996, but will increase
to $1.8-2 billion by the end of the current Iranian year (started March 20,
2004). This amount will increase to $2.5 billion by next year,Ē he said.
Total petrochemical sales stood at about
$2.4 billion last year. It is believed that this amount will increase to $3
billion this year and hit $4.5 billion next year.
Nematzadeh said Iran has started
studying regional markets and investments in three geographical zones. ďOman,
the United Arab Emirates, China, India, and Turkey are target goals for Iranís
petrochemical industry and we are also negotiating partnership programs with
creditable European countries,Ē he noted.
NPC has also planned research
cooperation with companies from Denmark, Italy, the Netherlands, and Germany.
Such cooperation will delineate a bright prospect for Iranís petrochemical