Azerbaijan, Baku, Aug.4 / Trend F.Milad /
Petrochemical exports from Iran to Asian markets have been rising due to the increasing demand as well as lower transportation costs compared to other destinations, the managing director of the National Petrochemical Company of Iran said.
Abdolhossein Bayat told the Mehr News Agency that despite global sanctions, petrochemical exports to Asian markets have increased by 30 percent in weight and 10 percent in value in the current year.
He added that the national petrochemical output is projected to be boosted by 5-5.5 million by the end of the current year.
On July 2, the Shana News Agency quoted 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 exported some $14 billion worth of petrochemical products to 60 countries last calendar year, Bayat said in April.