Iran Seeking $60 Billion From Total to Mitsui for Petrochemicals
- National Petrochemical Co. plans to more than double capacity
- Sanctions legacy makes financing difficult: NPC chief
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Iran is in talks with Mitsui & Co. Ltd. and Total SA as part of its push to attract $60 billion in foreign investment to more than double the country’s capacity to produce petrochemicals over the next decade.
State-run National Petrochemical Co. plans to increase output capacity to 150 million metric tons a year by 2026, Managing Director Marzieh Shahdaei said in an interview at her office in Tehran. That means completing 55 unfinished projects and 28 new production facilities, said Shahdaei, who also serves as deputy oil minister.