Iran needs 8b euros to invest on petrochemical each year

Xinhua, Tehran :
Iran needs eight billion euros to invest on its petrochemical sector each year, the head of Iranian National Petrochemical Company said Sunday.
“Currently, 2.7 to three billion euros are invested on the development of petrochemical projects annually, but we must attract eight billion euros a year,” Abbas Sheri-Moqaddam was quoted as saying by official IRNA news agency. Iran should take advantage of its 60-million-ton production capacity in the petrochemical industry, he said, adding that but the country is just using two-thirds of its production capacity.
Many petrochemical projects have been abandoned due to the western sanctions in recent years, he said.