BAKU, Azerbaijan, Jan. 21
By Elnur Baghishov – Trend:
Two megaprojects will be launched in the petrochemical sector of Iran by the end of the current Iranian government (August 2021), Iranian Oil Minister Bijan Zanganeh said, Trend reports citing IRINN.
He made the remark in an event dedicated to the launch of a number of facilities in the oil sector in Iran today on Jan. 21.
Zanganeh noted that $3 billion will be spent each of these megaprojects.
The minister added that a total of 17 petrochemical facilities worth $11.4 billion are planned to be launched in Iran in the current Iranian year (from March 20, 2020 to March 21, 2021). This will increase Iran's petrochemical production by 25 million tons per year.
Zanganeh stressed that in this context, the 11th facility was put into operation today. Thus, the Persian Gulf Bid-Boland Gas Refining Company's annual revenues will be $1.5 billion.
A plant of the Bid-Boland Gas Processing Company was put into operation in the Khuzestan Province (southwestern Iran) today. In general, $3.4 billion was spent on the plant.
The company's plant can produce 10.3 million tons of methane, 1.5 million tons of propane, 490,000 tons of butane, 922,000 tons of acid gas, and 400,000 tons of gas condensate per year.
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 $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.