Iran to start producing strategic petrochemical product
Azerbaijan, Baku, Jul.15/ Trend F.Milad/
One of the most strategic petrochemical products will be produced in Estahban Petrochemical Company, central Iran, the managing director of the company stated.
Kourosh Jonoubi told the Mehr News Agency that producing 100,000 tons of ethylene vinyl acetate has been projected by the company.
The output will be supplied both to the domestic and the international markets, he noted. The product is used in automotive, telecommunications, packaging, and healthcare industries, he said.
On July 2, the Shana News Agency quoted National Petrochemical Company's managing director Abdolhossein Bayat as saying that there is no problem to sell petrochemical products both in domestic and in foreign markets.
Bayat said that Iran plans to increase petrochemical output by 5 million tons to 49 million tons in the current calendar year, which ends on March 20.
He added that nine petrochemical projects will be implemented in the current year which will boost the country's output by 5 million tons.
The country's installed petrochemical production capacity is currently about 55 million tons, he noted. Bayat already said that the country's petrochemical exports have not declined despite EU sanctions.
Iran has explored new destinations to export its petrochemical products, he said, adding that currently exporting petrochemical products to Europe is regularly underway.
Iran exported some $14 billion worth of petrochemical products to 60 countries last calendar year, Bayat said in April.
He added that $10.5 billion of oil income will be allocated to the development of the national petrochemical industry.
Iran has developed 69 plans to boost its petrochemical output from the past year's 54 million tons to 100 million tons in 2015.