BAKU, Azerbaijan, March 9. The manufacturing of final products in Iran’s petrochemical sector in the coming years will contribute to the increase in petrochemical exports (final products) along with the creation of new jobs, Managing Director of Persian Gulf Petrochemical Complementary Industries Development and Investment Group, Rashid Qanei said, Trend reports citing Shana News Agency.
According to Qanei, Iran currently exports $14 billion worth of petrochemical products as raw annually. However, if final products are manufactured from the raw products, the value of them can increase several times.
The director added that although Iran has enough potential in petrochemical production, about 70 percent of it is not being used, so it is planned to take steps to increase the use of this potential.
"In this regard, 6 petrochemical plants will be put into use in the country over the next Iranian year (March 21, 2023 through March 19, 2024). The launch of the mentioned plants will generate an annual income of $500 million. At the same time, it will result in decrease in the export of petrochemical products in the raw form," he said.
At present, Iran's petrochemical production capacity is 90 million tons per year. Meanwhile, 35.7 million tons of petrochemical products were sold within the country and exported over the last Iranian year (March 21, 2021 through March 20, 2022). A total of $23 billion worth of revenue was obtained. This figure is expected to exceed $27 billion by the end of the current Iranian year (March 21, 2022 through March 20, 2023).
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