Ilam Petrochemical Complex to come on stream in Iran

Oil&Gas Materials 25 August 2013 11:03 (UTC +04:00)

Azerbaijan, Baku, Aug.25/ Trend F.Karimov/

The first phase of Ilam Petrochemical Complex, that situated on the west of Iran, will be inaugurated in the near future, the Shana News Agency reported.

The project was started in 2005 through investing $650 million plus 1 trillion rials. The complex is projected to produce 460,000 tons of ethylene and 120,000 tons of propylene per year.

Iran produced 14.3 million tons of petrochemicals in the first four months of the current Iranian year, which started on March 21, up 3.6 percent compared to the same period in the previous year, IRNA reported.

Some 5.5 million tons of the products, valued at 100 trillion rials (about $4 billion) were sold in the domestic market.

Iran's exported $3.157 billion worth of petrochemicals in the same period of time, down 12.5 percent year on year, according to Iran's customs administration office.

Iran exported 14.4 million tons of petrochemical products worth 10.1 billion dollars in the previous calendar year (which ended on March 20).

The figure shows 32 and 33 per cent increase in terms of weight and value respectively, compared to its preceding year, the Mehr News Agency reported.

The country exported 2.155 million tons of tar worth 1.09 billion dollars in the previous year, which was 46 per cent more than its preceding year.