BAKU, Azerbaijan, May 10. Iran's National Petrochemical Company (NPC) is implementing a strategic program to increase its annual petrochemical production capacity to 200 million tons for the next 10 years, Director of the Planning and Development Department of the Iranian National Petrochemical Company (NPC), Hassan Abbaszadeh said, Trend reports citing Shana News Agency.
Thus, in 2032, Iran will have capacity to produce 200 million tons of petrochemical products per year, according to Abbaszadeh.
“Within the program, Iran’s petrochemical production capacity will increase by 50 million tons over the next 5 years (by March 21, 2027) with the launch of 68 petrochemical facilities in the country,” he added.
The director said that there is an average of 30 percent physical progress in the construction of these facilities. So far, $9 billion has been spent on the facilities. A total of $35 billion is to be spent in this regard.
“Meanwhile, 37 petrochemical facilities are expected to be commissioned in the country in the next 5 years (March 21, 2027 through March 19, 2032). In total, $40 billion is to be spent on these facilities. As a result, the country’s petrochemical production capacity will increase by 58 million tons,” Abbaszadeh noted.
The official emphasized that at present, Iran's petrochemical production capacity is 90 million tons per year.
Over last Iranian year (March 21, 2021 through March 20, 2022), Iran produced a total of 65 million tons of petrochemical products.
Whereas, this year (March 21, 2022 through March 20, 2023), Iran plans to produce 80 million tons of petrochemical products in total.
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