Iran to produce 24 rare petrochemical products
Azerbaijan, Baku, Jan. 1/ Trend G.Mehdi/
Iran has prepared 10 trillion rials (about $815 million) worth of investment plans with the goal of producing 24 rare petrochemical products, the Mehr News Agency quoted Mohammad Ziyar, an official with the National Petrochemical Company, as saying.
The products will be of high added value, he said, adding that in the near future 30 investment opportunities will be introduced to both domestic and foreign investors.
Iran plans to boost petrochemical production by 12 million tons by the end of spring next year (June 20, 2013), National Petrochemical Company Managing Director Abdolhossein Bayat said on Saturday.
In November, Bayat said that about $80 billion in investment opportunities have been identified in both the upstream and downstream sectors of the Iranian petrochemical industry, which is taking great steps toward development.
China and countries in Western Europe are the main recipients of Iran's petrochemical exports, followed by countries in Southeast Asia, the Middle East, the Indian subcontinent, Africa, and Latin America, he noted.
Iran is seeking new markets for its petrochemical products. Toward this end, the NPC has been identifying new export targets for the past two years, and boosting exports of polymer products is on the agenda.
In April, Bayat said that Iran exported $14 billion worth of petrochemical products to 60 countries during the previous Iranian calendar year (March 2011-March 2012).
He added that $10.5 billion of oil revenues will be allocated for the development of the national petrochemical industry.