Iran has reduced the feedstock gas price for petrochemical plants from 13 cents to 8 cents per cubic meters.
Vice-President of Iran's Association of Petrochemical Industry Corporation said that due to huge drop in crude oil price, it is better the government gives further discounts in both natural gas and other feedstock to attract more foreign investment in this sector.
Presently Iran is planning to attract US$70 billion investment in petrochemicals sector in coming 10 years to triple the production capacity, which stands at 60 million tons per year. However, Iran's actual petrochemical production capacity is about 44 million tons a year.
