Five $1.5 bln-worth petrochemical units to come on stream in Iran

Baku, Azerbaijan, May 14

By Fatih Karimov - Trend:

Five $1.5 bln-worth petrochemical units will come on stream in Iran in the near future.

Ahmad Reza Heidarnia, Director of Projects at the National Petrochemical Company of Iran, said that Mahshahr, Hegmataneh, Lorestan, Kordestan, and Mahabad units will be inaugurated in the near future, Iran's Young Journalists Club reported on May 14.

Some 11 trillion rials will be also invested in the projects, Heidarnia said.

The official exchange rate of USD is currently 25,535 rials.

Iran is expected to export $14 billion worth of petrochemicals by the end of the current Iranian calendar year (March 20, 2015).

Hossein Shahriari, Deputy director of the National Petrochemical Company, said that the country's total petrochemical production will also reach 51 million tons, Iran's SHANA News Agency reported on May 7.

He added that the value of Iran's total output is expected to reach $35 billion.

Iran's petrochemical exports failed to show a significant increase in recent months despite the fact that Western countries suspended prohibition on the import, purchase or transport of the Islamic Republic's petrochemical products and related services since January.

Iran's petrochemical exports surpassed $10.723 billion during the last Iranian calendar year (ended on March 20), which indicates an increase by only 1.01 percent compared to the preceding year, the country's customs administration reported on April 7.

The total volume of exported petrochemicals in the last year stood at 14.5 million tons which is 4 percent less than the preceding year.

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