BAKU, Azerbaijan, Nov. 13
By Elnur Baghishov – Trend:
Iran's exports of petrochemical products increased by 94.4 percent, during the first six months of the current Iranian year (March 21 through September 22, 2021), compared to the same period last Iranian year, Director of the Planning and Development Department of the Iranian National Petrochemical Company (NPC), Hassan Abbaszadeh told IRNA, Trend reports.
According to him, Iran exported $7 billion worth of petrochemical products in 6 months. Iran plans to export $14.5 billion worth of petrochemical products by end of this year (March 21, 2021 through March 20, 2022).
The director added that Iran can produce 90 million tons of petrochemical products a year, at present. Iran is currently implementing 80 projects to increase petrochemical production. Upon completion of these projects, Iran's petrochemical production will increase by 80 million tons a year to reach 170 million tons.
Abbaszadeh said that the projects are expected to be completed by 2027 (March 21, 2027). About $55 billion will be sold on these projects.
Reportedly, Iran produced 32.8 million tons of various petrochemical products in 6 months, which is an increase of 8 percent, compared to the same period last Iranian year.
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 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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