Azerbaijan, Baku, Feb.24/ Trend F.Milad
Eleven petrochemical production units are ready to be inaugurated, Deputy Oil Minister Abdolhossein Bayat said on Sunday.
Iran's total petrochemical production capacity will reach 60 million tons by the end of the current calendar year (March 20), the IRNA News Agency quoted Bayat as saying.
The country's petrochemical output capacity currently stands at 57 million tons, he said.
Bayat, who is also managing director of the National Petrochemical Company of Iran, said last month that once all the Mehre Mandegar projects in the petrochemical sector come on stream, 12 million tons would be added to the country's petrochemical production capacity.
According to Iranian Oil Minister Rostam Qasemi, the country plans to build 70 new petrochemical production units.
Once all the units come on stream the nation's installed petrochemical production capacity would reach 100 million tons, he said.
Petrochemical sector is one of the most profitable industries of Iran and we can guarantee a 30-percent interest to the investors, Qasemi added.
Iran exported $8.495 billion worth of petrochemicals in the first 11 months of the current Iranian calendar year, which began on March 20, 2012.