Iran to inaugurate five petrochemical plans soon

Business Materials 8 May 2013 16:45 (UTC +04:00)

Azerbaijan, Baku, May.8/ Trend F.Karimov/

Iran will inaugurate five petrochemical projects in the near future, the Mehr News Agency quoted deputy oil minister Abdolhossein Bayat as saying.

"During the past eight years, 38 million tons has been added to the country's petrochemical output, he added. "The output will surpass 75 million tons by the end of the current Iranian calendar year (March 2014), he noted.

Foreign investment in the Iranian petrochemical sector has exceed $13 billion, he said.

Over 40,000 petrochemical units are in operation across the country, he added.

Iran exported some $12 billion worth of petrochemical products in the past Iranian calendar year, Bayat said, adding that the volume of exported products amounted to about 16 million tons.

Last year, petrochemical products were exported to around 60 countries of the world, he said.

Iran's nominal petrochemical production capacity was increased by about 13.2 percent in the previous Iranian calendar year, according to Shana.

The Far East, Central Asia, Southeast Asia and Africa were the main destinations of the Iranian products.

Earlier in March, Bayat said the country's petrochemical output is planned to hit 100 million tons by 2015.