Description

Iran's petrochemical sector is a major contributor to the country's economy. To expand the production capacity of the sector and increase its output by 2015, the government has adopted ambitious development plans and is diversifying the range of petrochemical products. It is also privatizing the sector and is likely to sell a significant share of the National Petrochemical Company (NPC) by 2014. The international sanctions against Iran are likely to have a negative impact on the growth of the industry. However, the government has started taking initiatives to attract more investments from the private sector.