BAKU, Azerbaijan, Aug. 16
By Elnur Baghishov – Trend:
The value of Iran's petrochemicals export increased by about 50 percent during about the first five months of the current Iranian year (from March 21 through August 22, 2021), compared to the same period last Iranian year, the Secretary of Iran`s Petrochemical Industry Owners Guild Ahmad Mahdavi Abhari said, Trend reports citing Iran’s Shahid Tondgooyan Petrochemical Company’s website.
He made the remark in a meeting held in Iran’s Shahid Tondgooyan Petrochemical Company.
The secretary noted that one of the main reasons for the increase is the rising in the cost of petrochemicals and polymer products by an average of $80-$100 per ton.
Mahdavi Abhari added that the annual production capacity of Iran's petrochemical industry will soon exceed 100 million tons, and by 2026 will reach 136 million tons.
“Currently, more than 50 percent of Iran's foreign exchange needs are met through the export of petrochemicals. The new government will pay special attention to the petrochemical industry as one of the strategic industries,” he said.
As reported, Iran is planning to export 33 million tons of petrochemical products worth $14.2 billion in the current Iranian year (from March 21, 2021 through March 20, 2022). It is planned to produce 43 million tons of final products in the current Iranian year. About 10 million tons of it will be consumed in the country. In general, the revenues of the petrochemical industry will amount to $21.5 billion this year.
Starting from the second half of the next Iranian year (August 23, 2022), 39 petrochemical facilities are to be put into operation in the petrochemical sector of Iran. In total, 50 facilities are to be put into operation in the next 5 years (until March 20, 2026). Of these, 3 facilities are on the production of mixed fuels, 11 facilities – on the production of propylene, and 33 are development facilities.
Iran's annual petrochemical production potential will increase to 136 million tons in five years, and to 167 million tons with the implementation of strategic plans.
In total, 17 petrochemical facilities at a cost of $11.4 billion were put into operation in the country over the last Iranian year (from March 20, 2020 through March 20, 2021). Thus, the annual production of Iran's petrochemical sector increased from 65 million tons to 90 million tons.
---
Follow the author on Twitter: @BaghishovElnur