Iran to launch 20 petrochemical projects by 2021

Business Materials 30 May 2019 13:13 (UTC +04:00)

Baku, Azerbaijan, May 30

By Elnur Baghishov – Trend:

Twenty major petrochemical projects have been recently announced by the Iranian Ministry of Petroleum, and these projects will be completed by March 21, 2021, said Behzad Mohammadi, CEO of Iran’s National Petrochemical Company, Trend reports referring to Tasnim News Agency.

According to Mohammadi, 3 projects will be implemented this Iranian year (started March 21, 2019), while the rest will be implemented next Iranian year (begins March 21, 2020).

"Thus, Iran's petrochemical industry will reach 92 million tons annually," he said.

Noting that there are currently 55 petrochemical complexes in Iran, Mohammadi added that the annual production of the petrochemical industry of Iran is 65 million tons, and that the bulk of it is used for industrial purposes.

"The volume of the products that can be sold in Iran's petrochemical industry is 31 million tons a year. Its 22 million tons are exported to 30 destinations," he said.

The CEO went on to say that Iran's petrochemical industry revenues total some $17 billion, adding that $12 billion is earned via exports.

Mohammadi added that currently 64 projects are being implemented in the petrochemical sector, with 20 to 99 percent progress having been made in these projects.

The company official said that 6 of the 64 projects are focused on fuel supplies, and that these 6 projects will provide 15 million tons of fuel.