TEHRAN, Iran, June 26
Trend:
Iran plans to increase the production capacity of the country petrochemical industry by 2022, said Iranian Oil Minister.
"Iran is to inaugurate 17 petrochemical projects in current Iranian year [started March 20, 2020], and the Miandoab Petrochemical complex commissioned recently was one the first of them," said Bijan Zangeneh, Trend reports citing ILNA.
"The value of petrochemical products in 2013 was $12 billion, and it is expected to double to $25 billion by the end of next Iranian year (starts March 21, 2021) in the second industrial leap, while following third industrial leap, the value of petrochemical products shall reach $37 billion in 2025," the minister added.
"Iran is to transport around two million tons of ethylene West Ethylene Pipeline to the petrochemical enterprises in the west of the country including Miandoab Petrochemical complex," Zangeneh said.
"Rail tracks will be installed to fortify the petrochemical industry, and its production capacity will reach 100 million tons by the end of next Iranian year," he added.
"There are no concerns over the shortage of products during coronavirus spread since the domestic downstream industries have revived and more than $5.5 billion is to be supplied to them in current Iranian year," he said.