Iran's petrochemical products' exports grows

Tehran, Iran, Oct.16

Trend:

Exports of Iran's petrochemical products are growing despite sanctions, and the focus is made on the Commonwealth of Independent States (CIS) and other neighbor countries, Head of International Marketing and Sale of Shazand Petrochemical Company Mohammad Reza Najafi told Trend in an interview.

"Iran continues to exports petrochemical products to the CIS countries, Turkey, India and China and other destinations despite the US sanctions. Currently, we have established cooperation with Azerbaijan, Uzbekistan and Turkmenistan. We have good relations with foreign customers and there is no problem in this regard," he added.

"Around 40,000 tons of petrochemical products have been exported per month based on our plans. The total value of exports in last Iranian year (began March 21, 2018) amounted to $400 million. It is expected that the exports' volume will grow by up to 15 percent," Najafi indicated.

"Polymer products are exported to Turkey, Eurasia, Caucasus and some European countries. The liquid products that require transferring via ship are exported to China, India, Vietnam, and South East Asia. Due to arrangements, there are no significant sanction problems in exports and payments," the head of international marketing and sale said.

"There are some issues in terms of bank transactions, but we address them via trustee and intermediary companies," he said referring to issue of transferring exports foreign currency revenues.

"Our target is to develop domestic capacities; for example, 99 percent of recent overhaul in Shazand Petrochemical Company was implemented with local resources. We develop cooperation with some foreign companies to import specific items including catalysts and specific chemical materials. As for the equipment and parts, 98 percent of them are supplied domestically," said the company representative.