Azerbaijan, Baku, July 24 /Trend/
Iran's petrochemical production increased to 40.2 million tons in last solar year (ended on March20, 2011), IRNA reported quoting the National Petrochemical Company's data.
"The export of petrochemical products increased in last solar year by 17.9 million ton valued $11.6 billion while 40 projects had been launched from 2005 to 2010 (Ahmadinejad's first presidential term) with production capacity of 34.5 million tons," the report stated.
Iran's petrochemical products doublesran's share of petrochemical product export in the Middle East increased on current year to 24.53 percent becoming second largest producer and exporter of petrochemicals in the region.
The National Petrochemical Company reported $415,000 invested on petrochemical industry during past two years.
NIPC Director Abdolhossein Bayat said on Saturday that Iran's annual production of various petrochemical products will hit 60 million tons by the end of the current year (started on March20,2011).
OPEC statistics published this month indicates Iran's refinery capacity increased by 18 percent in 2010.