BAKU, Azerbaijan, Jan. 21
By Elnur Baghishov - Trend:
If downstream industry products in the Iranian petrochemical sector are turned into value-added products, their value will increase several times, Iranian Deputy Minister of Industry, Mine and Trade Mehdi Sadeqi Niaraki said, Trend reports referring to the website of the Iranian Ministry of Industry, Mine and Trade.
Niaraki noted that Iran produces over 50 million tons of petrochemical products a year, adding that some of these products are exported in the form of raw materials worth about $12 billion.
The deputy minister said that innovation and investment in the plastics and polymer industry are essential.
“About 590,000 tons of rubber products were exported last Iranian year (March 21, 2018 - March 21, 2019),” Niaraki added. “The value of these products was $1.4 billion and they were exported mainly to neighboring countries.”
There are plans to increase production volume in Iran’s petrochemicals sector from the current 66 million tons to 100 million tons by March 21, 2022, and revenues from $17 billion to $25 billion.
At the same time, with the commissioning of 28 projects by 2026, production in Iran’s petrochemical sector is expected to reach 133 million tons with the value of $37 billion.