Iran's Oil Minister, Bijan Namdar Zanganeh, said investment in petrochemical industry will make up over 16 percent of total capital expenditure in the country's oil industry during the next 10 years.
According to the Persian language Mardomsalari daily, Zanganeh projected that between $15 to $17 billion would be directed to Iran's petrochemical industry.
"An annual average amount of 10 billion dollars is projected to be spent in the country`s oil, gas and petrochemical industries if current trend of investment attraction is pursued and no political crisis emerges in the region during the next ten years," the minister
conveyed.
"Allocating 60 percent of investment in Iran's oil industry to local industrialists and contractors is the most appropriate way for investment," he added. (menareport.com)
© 2004 Mena Report (www.menareport.com)
