Iran polymer output capacity to reach 7.5 million tons by June

Business Materials 9 January 2013 12:55

Azerbaijan, Baku, Jan.9 / Trend F.Milad /

Iran's polymer production capacity will reach 7.5 million tons by June, the managing director of National Petrochemical Company of Iran said on Wednesday.

The country's current polymer output capacity stands at 6.3 million tons, the IRNA News Agency quoted Abdolhossein Bayat as saying.

Iran's overall petrochemical production capacity stands at 57 million tons per year, he said.

Iran recently inaugurated the Kermanshah Polymer Petrochemical Plant.

According to Bayat, a total of USD4.24 billion has been invested in the plant, 73 per cent of which has been provided by the private sector and the rest funded by the government.

The plant has created jobs for about 1500 people and is expected to sell 429 million dollars' worth of petrochemical products per year.

Iran has significantly expanded the range and volume of its petrochemical products over the past few years and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

The Islamic Republic exported a total of 18.2 million tons of petrochemicals and polymer worth about USD14.2 billion to more than 60 countries in the last Iranian calendar year (ended March 19, 2012).