Petrochemical revenue to reach 25b amid investment surge

Petrochemical revenue to reach $25b amid investment surge

TEHRAN - Iran's petrochemical sector is set to increase its foreign exchange revenue to over $25 billion, bolstered by new investments in natural gas production, according to Ahmad Mahdavi, Secretary-General of the Iranian Petrochemical Employers’ Association.

Speaking to local media, Mahdavi revealed that 10 agreements have been signed to address the country's natural gas supply imbalance and invest in gas fields. These agreements, totaling $8.0 billion in investment, are expected to enhance daily gas production by 200 million cubic meters.

As Tasnim News Agency reported, the new projects are slated to be completed by the end of Iran’s Seventh National Development Plan (2026). Once operational, they are projected to significantly boost the foreign currency income generated by the petrochemical sector, positioning it as a key contributor to Iran's economy.

Mahdavi urged the Oil Ministry and government to streamline licensing processes to expedite investments in this critical sector. He emphasized that these initiatives could substantially mitigate the nation’s gas supply shortfall while supporting industrial growth.

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source: tehrantimes.com