$70bn projects carried out under sanctions: NPC official

TEHRAN, Dec. 15 (Shana) – Iranian companies carried out as many as 350 petrochemical projects worth over 70 billion dollars under the sanctions over the course of the recent years, said a senior Iranian petrochemical official.

“1,100 Iranian companies are being run by more than 100,000 expert personnel across Iran and can manufacture hundreds of sophisticated petrochemical equipment and stuff,” she said.

She said Iranian petrochemical plants process 44.5 million tons of petrochemicals annually which is less than their nameplate capacity due to feedstock shortages.

“The projects are estimated to cost $40bn for their completion,” she added.

Iran has 67 half-finished petrochemical projects up for grabs with 20 to 90% physical progress which are planned to come on-stream based on a schedule.

More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherlands, Russia, and US partook in the event.

Source Article from http://theiranproject.com/blog/2015/12/15/70bn-projects-carried-out-under-sanctions-npc-official/

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