Iran's National Petrochemical Co. (NPC) is seeking as much as $1.7 billion in foreign investment over the next 2 years to set up six natural gas-based petrochemical joint ventures in and outside Iran. The units would have a combined output capacity of 6 million metric tons/year.
The projects include a $500 million methanol plant, with 660,000 tons/year of capacity, and a $300 million fertilizer complex in Azerbaijan, designed to produce 1,000 tons/day of urea and ammonia. NPC will reportedly allow foreign firms to hold majority stakes in some of the proposed projects.
Iran produces 14 million tons/year of petrochemical products and hopes to increase...