Baku, Azerbaijan, July 14
By Fatih Karimov - Trend: Iran's petrochemical production hit 11.5 million metric tons in the first three months of the current Iranian fiscal year, which began on March 21.
Petrochemical production amounted to 3.7 million metric tons in the third fiscal month (May 22-June 21), Iran 's Shana news agency reported July 14.
Petrochemical sales hit 2.7 million metric tons, of which 1 million metric tons were sold in the domestic market.
Exports of petrochemical products amounted to $9 billion.
Iran's total petrochemical production capacity stands at 60 million metric tons per year, which the country plans to double.
Head of the National Petrochemical Company Abbas Sheri Moqaddam said about $70 billion of investment was needed in the petrochemical industry over the next 10 years.
Three new petrochemical plants are expected to become operational before the end of the current Iranian year in March 2016, raising the country's production of light and heavy varieties of polyethylene by about 900,000 metric tons.
Edited by CN