Iran to create Petrochemical Development Fund

Iran’s National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas Sheri-Moqaddam, managing director of NPC, has said, according to the country’s Oil Ministry News Agency Shana.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

At present, NPC is drawing up Articles of Association for Petrochemical Development Fund with the help of well-known economists and the Stock Exchange, Mr. Sheri-Moqaddam said.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

According to him, private investors, banks and other potential investors in the petrochemical sector would be involved in the fund.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

The setting up of Petrochemical Development Fund would help finance petrochemical development projects.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

As per Iranian law, the NPC cannot directly invest in petrochemical development projects, but efforts are currently underway to get the necessary permission to allow NPC to directly invest in petrochemical projects, Mr. Sheri-Moqaddam said.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

Last month, Mr. Sheri-Moqaddam said that around US$ 8 billion worth of foreign investment is required for the development of the country’s petrochemical sector and the NPC is trying to attract investment from foreign investors.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

He said the NPC was also determined to attract private investors and facilitate their presence in development projects.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

In late May 2014, Tehran would be hosting an international conference in order to share investment opportunities in Iran with investors from other countries.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #

In the new Iranian calendar year that began on March 21, 2014, the country’s petrochemical exports are likely to touch $12 billion, as per NPC estimates.

 

Iran's National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas #