Home / Knowledge / News / Textiles / Iran to create Petrochemical Development Fund
Iran to create Petrochemical Development Fund
12
Apr '14
Iran’s National Petrochemical Company (NPC) is currently giving final touches to the charter for creation of a fund for petrochemical projects, Abbas Sheri-Moqaddam, managing director of NPC, has said, according to the country’s Oil Ministry News Agency Shana.
 
At present, NPC is drawing up Articles of Association for Petrochemical Development Fund with the help of well-known economists and the Stock Exchange, Mr. Sheri-Moqaddam said.
 
According to him, private investors, banks and other potential investors in the petrochemical sector would be involved in the fund.
 
The setting up of Petrochemical Development Fund would help finance petrochemical development projects.
 
As per Iranian law, the NPC cannot directly invest in petrochemical development projects, but efforts are currently underway to get the necessary permission to allow NPC to directly invest in petrochemical projects, Mr. Sheri-Moqaddam said.
 
Last month, Mr. Sheri-Moqaddam said that around US$ 8 billion worth of foreign investment is required for the development of the country’s petrochemical sector and the NPC is trying to attract investment from foreign investors.
 
He said the NPC was also determined to attract private investors and facilitate their presence in development projects.
 
In late May 2014, Tehran would be hosting an international conference in order to share investment opportunities in Iran with investors from other countries.
 
In the new Iranian calendar year that began on March 21, 2014, the country’s petrochemical exports are likely to touch $12 billion, as per NPC estimates.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Sonam & Paras Modi
SVA

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search