Home / Knowledge / News / Textiles / Iran's NDF earmarks $3bn for petrochemical projects
Iran's NDF earmarks $3bn for petrochemical projects
Jan '13
Iran’s National Development Fund (NDF) has earmarked US$ 3 billion for financing 11 petrochemical projects, mainly in southern and western parts of the country, Tehran Times reported.
NDF Deputy Director Ehsan Sharifi informed that the country allocates 20 percent of its oil revenues to the fund, which had a total accumulation of around US$ 43 billion till December 24, 2012.
According to President Mahmoud Ahmadinejad, the fund’s assets are expected to reach US$ 55 billion by end of the current Iranian calendar year on March 20, 2013.
National Petrochemical Company (NPC) Managing Director Abdolhossein Bayat said the country intends to add 12 million tons of petrochemical production capacity to its existing strength by end of spring season on June 20, 2013.
Mr. Bayat had earlier said that investment opportunities worth US$ 80 billion have been spotted in the country’s upstream and downstream petrochemical industry, which is implementing real time initiatives to tap growth.
He added that it is proposed to allocate US$ 10.5 billion of oil reserves for development of the domestic petrochemical industry.
In addition to China and Western European nations, which are the main destinations, Iran exports petrochemicals to countries in Southeast Asia, the Middle East, Africa, the Indian subcontinent and Latin America.
During Iranian calendar year 2011-12, which ended on March 20, 2012, Iran exported petrochemicals worth US$ 14 billion.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search