BAKU, Azerbaijan, June 28
By Elnur Baghishov – Trend:
Iran plans to implement 28 plans in the petrochemical sector, which will result in the production of 22 new petrochemical products, Director of the Planning and Development Department of the Iranian National Petrochemical Company (NPC), Hassan Abbaszadeh said in a press conference, Trend reports citing Shana News Agency.
According to Abbaszadeh, within these plans, 3 million tons will be added to Iran's annual petrochemical production capacity.
Abbaszadeh added that there are currently 67 petrochemical plants operating in Iran. Their production capacity is 90 million tons annually.
The director noted that about 40 million tons of fuel were consumed in Iran’s petrochemical sector over the last Iranian year (from March 20, 2020 through March 20, 2021). This is equivalent to 992,000 barrels of crude oil per day. As a result, 35 million tons of final products were produced. Of this, 25 million tons were exported and 10 million tons were consumed in the country.
“Iran is implementing 48 projects under two plans to increase petrochemical production in Iran. A total of $30 billion is to be spent on these projects, and thus, 45 million tons will be added to Iran's petrochemical production capacity,” he said.
The director emphasized that within the first plan, 10 facilities will be launched by the end of the current Iranian year (March 20, 2022) and 10 million tons will be added to Iran's petrochemical production capacity. So far, $8 billion has been spent on this plan.
As many as 38 facilities will be launched by March 20, 2026, under the second plan, Abbaszadeh said.
Reportedly, 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.