BAKU, Azerbaijan, Mar. 9
By Elnur Baghishov – Trend:
The Iranian government is working to create small and medium-sized enterprises with an investment of the private sector in direction to increase propylene production, Deputy Oil Minister and Executive Director of Iran’s National Petrochemical Company, Behzad Mohammadi said, Trend reports citing the company’s website.
Mohammadi stressed that in this regard, the government adopted a decision on March 7. According to the decision, until March 21, 2026, Iran's propylene production will increase significantly.
The deputy minister added that at present, Iran produces 1 million tons of propylene annually. The production is estimated to be about 4 million tons until March 21, 2026.
The director noted that the main share (about 40 percent) in the import of petrochemical products to Iran accounted for the import of propylene. Thus, Iran imports about $600 million worth of propylene products annually.
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.