Azerbaijan, Baku, Jul.15/ Trend F.Milad/
The first phase of Ilam Petrochemical Complex, west of Iran, will be inaugurated in December this year, the deputy governor general of Ilam Province said.
"Some €220 million of the National Development Fund has been allocated to the projects," Heshmatollah Asgari told the IRNA News Agency on Sunday.
The project started in 2005 through investing $650 million plus 1 trillion rials. The complex is projected to produce 318,000 tons of ethylene and 300,000 tons of polyethylene per year.
Iran produced over 7 million tons of petrochemical products in the first quarter of the current calendar year (began on March 20), showing 9 percent growth compared to the same period last year, the Shana News Agency quoted an official with the National Petrochemical Company as saying on June 18.
Ali-Mohammad Bassaqzadeh said that 30 kinds of petrochemical products have been exported to Asian, European, and African countries in the past calendar year.
Last year, Iran exported 16.2 million tons of petrochemical products to 60 countries and regions around the world.
According to the report, Western Europe and China are the main recipients of Iran's petrochemical exports, followed by Southeast Asia, the Middle East, the Subcontinent, Africa and Latin America.
Iran plans to increase petrochemical output by 5 million tons to 49 million tons in the current calendar year, which ends on March 20, 2013, the National Petrochemical Company's managing director said on June 6.
Abdolhossein Bayat added that nine petrochemical projects will be implemented in the current year which will boost the country's output by 5 million tons," the Mehr News Agency quoted him as saying.