Azerbaijan, Baku, Oct. 30/ Trend F.Milad/
India is the newest importer of Iranian petrochemical products, PANA News Agency reported.
Iran has recently sent a 7000 ton EDC cargo from a newly inaugurated polyvinyl chloride (PVC) unit at the Arvand Petrochemical Complex to India.
The Arvand Petrochemical Complex's PVC unit which is the world's largest, was inaugurated in May.
"Launching the PVC unit will remove the need for importing caustic soda," Esmaeel Mousavi the managing director of the Arvand Petrochemical Complex said at the inauguration ceremony.
The PVC production line in the Arvand Petrochemical Complex has increased Iran's annual PVC production capacity by 340,000 tons.
Iran has invested about $1.6 billion in the Arvand Petrochemical Complex since it began developing the project in 2003.
The Arvand Petrochemical Complex produces 2.834 million tons of various petrochemical products each year which are used as feedstock in the downstream sector such as detergents, papers, textiles and healthcare industries as well as solvents for resins and waxes.
In addition to India, the complex's products are exported to Jamaica, South Africa, Nigeria, Singapore, India, China and some European countries.
On April 18, Bayat said that Iran exported some $14 billion worth of petrochemical products to 60 countries last calendar year, which ended on March 19.
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 by 2015.