BAKU, Azerbaijan, Feb. 7
By Elnur Baghishov – Trend:
Iran’s petrochemical production capacity will reach 150 million tons by March 20, 2027, and 200 million tons by March 20, 2032, the CEO of Iran’s National Petrochemical Company (NPC) Morteza Shah-Mirzaei said, Trend reports citing Shana News Agency.
He made the remark during the opening of the 15th International Iran Plast Exhibition.
According to Shah-Mirzadei, Iran's petrochemical production amounted to 1.5 million tons per year, during the first year of the Iranian Revolution (1979). At present, the country's petrochemical production capacity is more than 90 million tons a year.
The CEO noted that demand for liquid oil and gas products will fall to a minimum within next 10 years. In this regard, investments should be directed to increase petrochemical production.
The deputy minister called on investors to invest in Iran's petrochemical industry.
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.
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