BAKU, Azerbaijan, Nov. 2
By Elnur Baghishov – Trend:
The revenues of Iran's petrochemical sector will reach $21.5 billion for the first time in the current Iranian year (March 21, 2021 through March 20, 2022), Deputy Oil Minister and Executive Director of Iran’s National Petrochemical Company, Behzad Mohammadi said, Trend reports citing the company’s website.
The deputy minister said that about $14 billion of this revenue will come from petrochemical exports and the rest from sales in local markets.
Mohammadi added that in 5 years (March 21, 2026), the revenues of Iran's petrochemical industry will increase to $50 billion a year.
“In order to increase the revenues of the petrochemical industry, facilities related to 80 projects are currently under construction. At present, there is more than 37 percent physical progress in the construction of 65 of these facilities, while the construction of 15 facilities have just begun,” he said.
The director noted that 170,000 people are employed to produce each 1 million tons of petrochemical products in Iran. It is planned to sell 6-7 million tons of petrochemical products at the Iran Mercantile Exchange (IME) this year. This means that about 1 million people will be employed.
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 related to the production of mixed fuels, 11 facilities – 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.
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