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Bandar Imam Petchem Plant in talks for $500M FDI

Bandar Imam Petchem Plant in talks for $500M FDI
(Tuesday, May 2, 2023) 23:35

TEHRAN (NIPNA) -- Bandar Imam Petrochemical Company, one of Iran's largest petrochemical companies, is seeking $500 million in foreign investment.

The CEO of the company, Sepahdar Ansari Nik, announced during the IPF international conference that negotiations are currently underway with a foreign company to secure the funds.

The investment will go towards the planned renovation and development projects worth $2.7 billion over the next five to ten years.

Ansari Nik also announced the company's plans to diversify its products, adding four new items to the product portfolio of the petrochemical complex in the near future.

He highlighted the advantages of the Bandar Imam Petrochemical Company, including the existence of utility and centralized feed supply pipelines, 300 hectares of free land in the vicinity of the complex, annual income of $1.2 billion, and expert human resources.

The CEO stated that the company's main policy in the future is to complete the value chain and prevent raw sales.

He announced the creation of sustainable profit and efficiency in investment as one of the other strategic goals of the company.

By 2028, the company aims to increase its production from 6.5 million tons to 9.5 million tons and increase annual income from $1.2 billion to $2.5 billion, with the current 17% profit margin expected to reach 45%.

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