By Fatih Karimov – Trend:
Baku, Azerbaijan, Aug. 28
Iran has commenced exports of petrochemical products to Brazil, Mehr news agency reported Aug. 28.
Jamshid Mohammadi, Foreign Commercial Director at Kermanshah Petrochemical Industries Company, said that Iran has begun to ship urea consignments to the South American country.
The total volume of exported urea was 64,250 tons which was sent to Brazil in two shipments (27,500 and 36,750 tons) in recent weeks, Jamshidi said.
Iran’s actual production capacity is around 61 million tons per annum, but the shortage of natural gas as feedstock, old production units, and the problem of sanctions, which forced exports to drop, caused petrochemical complexes to work at lower capacities.
The Islamic Republic hopes to bring this capacity to 120 million tons by 2020 and 180 million tons by 2025.
Iran produced 46.4 million tons of petrochemical products during the last fiscal year(ended March 20), but for the current year, the figure is planned to reach 54.7 million tons.
The country’s petrochemical products export increased by 25.03 percent to $7.462 billion during the first five months of current fiscal year (March 20-Aug. 21).