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NPC Defines 19 New Methanol Chain Projects for Investors

NPC Defines 19 New Methanol Chain Projects for Investors
(Wednesday, May 3, 2023) 10:50

TEHRAN (NIPNA) -- The National Petrochemical Company (NPC) has defined 19 new methanol chain projects with an investment volume of $9 billion, according to Reza Nekoui, the investment manager of NPC.

Speaking at the specialized meeting on petrochemical industry investments and developments at the 14th Iran Petrochemical Forum, Nekoui said that the projects were suitable for interested investors.

He also mentioned that 116 petrochemical projects with an investment volume of about $100 billion are being implemented in Iran. Of these, 37 projects are under 20% progress, 32 projects are 20-70% progress, and 11 projects are over 70% progress, and these 11 projects will be operational by the beginning of next calendar year.

Nekoui further explained that NPC is paying attention to the allocation and sustainability of petrochemical projects' feed. For petrochemical projects in the chain, feed discount is considered, and some cases are given a discount of up to 30% at the discretion of the Ministry of Petroleum. Additionally, a long-term tax discount has been considered for the projects in special and less developed areas.

Nekoui highlighted that one of the advantages of special petrochemical zones is access to high seas and infrastructure facilities. The Foreign Investment Promotion and Protection Law (FIPPA) has also been considered to reduce the risk of investment by guaranteeing the permission to withdraw capital and profit from capital.

Nekoui mentioned that there are six active petrochemical hubs in the country, with 14 plans in Mahshahr, 23 plans in Asaluyeh, 11 plans in Kangan, 10 plans in Parsian Energy Zone, two plans in Chabahar, and four plans in Qeshm.

Finally, Nekoui emphasized that the focus of this administration is on internalizing technical know-how, manufacturing equipment and goods, and using domestic catalysts.

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