Iran’s petrochemical exports to EU increases by 200%

Baku, Azerbaijan, Nov. 6

By Fatih Karimov – Trend

Iran’s petrochemical exports to the European countries have increased by 200 percent during the first seven month of current Iranian fiscal year(started March 20), Ali Mohammad Bossaqzadeh, director of production control at National Petrochemical Company (NPC), said.

Bossaqzadeh also said that Iran’s petrochemical output has increased by 6 percent to 28.7 million tons in the same period, SHANA news agency reported.

He further said that among the countries 21 petrochemical complexes Kermanshah Polymer Complex, Polinar, Kargh and Khorasan plants witnessed an output over their actual production capacity.

The country’s total petrochemical export has registered a rise by 4 percent year-on-year, Bossaqzadeh said.

Asian countries like China and India are Iran's top petrochemical customers, he said, adding that Tehran is currently exporting petrochemicals to various European destinations including Germany, Hungary and the UK.

He said NPC's strategy is to keep the price of products abreast with the Middle East and Far East markets in order to diminish price fluctuations.

Iran produced 46.4 million tons of petrochemicals during the last fiscal year (ended March 20), but for the current year, the figure is planned to reach 54.7 million tons.

The country’s actual petrochemical output capacity is around 63 million tons per year.

Iran hopes to bring the capacity to 120 million tons by 2020 and 160 million tons by 2025.

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