Petrochemical industry sector developing in Iran

Oil&Gas Materials 24 August 2020 08:20 (UTC +04:00)
Petrochemical industry sector developing in Iran

BAKU, Azerbaijan, August 23

By Elnur Baghishov – Trend:

The production in Iran's petrochemical industry sector has almost doubled over the past seven years (since the current government of Iran came to power in August 2013), Iranian President Hassan Rouhani said at a meeting of the Cabinet of Iran attended via videoconference by Supreme Leader of Iran Ayatollah Seyyed Ali Khamenei, Trend reports citing Iranian President Office’s official website.

Rouhani emphasized that the revenues of Iran from the sale of petrochemical products will increase to $25 billion a year.

The president added that a new plan will be implemented in Iran from 2022, and thus, Iran's petrochemical revenues will increase to $37 billion.

"There is a noticeable increase in the production of aluminum, copper, automobiles, household appliances and other products in Iran," the president said.

Rouhani noted that the production of agricultural products reached 125 million tons in the preceding Iranian year (from March 21, 2018 to March 21, 2019). This figure will exceed 130 million tons by the end of the current government (August 2021).

According to the president, during this period, the volume of greenhouse areas in Iran increased from 8,000 hectares to 18,500 hectares. The production increased from 900 grams to 1,350 grams in return for each cubic meter of water.

Iran is implementing two plans to increase the production of petrochemical products. According to the first plan, Iran's petrochemical production will increase from 66 million tons to 100 million tons per year and the revenues from $15 billion to $25 billion until March 20, 2022.

According to the second plan, Iran's petrochemical production will reach 133 million tons per year and the revenues will reach to $37 billion by March 20, 2026.

Iran produced 31 million tons of petrochemicals last Iranian year (March 21, 2019 - March 20, 2020). Of these, 8 million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.