BAKU, Azerbaijan, September 7
By Elnur Baghishov – Trend:
It is planned to implement 34 projects in the Iranian petrochemical sector with an investment of $17 billion, Deputy Oil Minister and Executive Director of Iran’s National Petrochemical Company Behzad Mohammadi told Shana news agency, Trend reports.
According to Mohammadi, in general, the implementation of these projects will increase the production of petrochemical products in Iran by 109 million tons.
He added that these projects are in addition to the ongoing plans to increase the production of petrochemical products in Iran.
The deputy minister stressed that implementation of plans for petrochemical combine fuel at Iran's petrochemical facilities is in the spotlight.
"Four major plans are envisaged for the production of petrochemical combine fuel. In total, $11 billion will be spent as a result of these plans," he said.
The director noted that so, the production potential of Iran's petrochemical sector will increase by 11 million tons.
Mohammadi said that on August 7, the foundation of the Arghavan petrochemical plant for the production of the first petrochemical combine fuel was laid with the investment of the pension fund of the The Islamic Republic of Iran Broadcasting (IRIB) in Asaluyeh county of Bushehr Province (southern Iran).
"In addition, two plans for petrochemical combine fuel will be implemented by the Persian Gulf Holding and one plan by the Parsian Oil and Gas Holding in Asaluyeh county," he said.
The deputy minister emphasized that there are 20 projects envisaged for the production of petrochemical products in the country domestically. The increasing in the production of methanol, propylene, ethylene and benzene is in spotlight.
"Three plans are envisaged to increase the production of propylene via methanol in Asaluyeh county, three plans in the Amirabad port of the Mazandaran Province ( northern Iran), one in the Anzali Free Trade Zone of Gilan Province (northern Iran) and one in the Islamabad county of Kermanshah Province (western Iran). Thus, Iran's current production of propylene (1 million tons) will increase to 4 million tons per year," he added.
According to the director, the investments and production volume in the downstream industry are low. However, the produced products are more high-quality, and the increase in propylene production will meet the needs of the downstream industry in this fuel.
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.