Iran targets South America for petchem exports

Iran Materials 18 October 2010 11:45 (UTC +04:00)

Iran will soon export its first petrochemical shipment to Brazil, the managing director of Iran Petrochemical Commercial Company said here on Sunday.

Reza Hamzehlou added that, "Iran has defined new target markets such as Africa and South America in order to diversify the destination market for its petrochemical products."

He named Brazil and Argentina as the potential buyers of Iranian petrochemicals.

According to Reza Hamzehlou Iran recently exported its first consignment of petrochemical products to Egypt as part of a new agreement with that country in this field.

He also noted that, "the final stages of negotiations between Iran and Egypt were going on for exporting five main petrochemical products including polypropylene, urea fertilizer, methanol, polymer grades and parazyline."

Africa has a share of only one percent of Iran's petrochemical exports.

In addition, talks have started in the ALBA region (Latin America) with countries such as Venezuela, Ecuador, Bolivia and Brazil for the exportation of Iranian petrochemical products to these countries.

Iran currently produces 25.8 percent of petrochemical products of the Middle East and 2.4 percent of the global output.

The Islamic Republic plans to produce 44 million tons of petrochemicals by the end of the current year.

The Iranian 20-Year Outlook Plan (to end in 2025) envisions the petrochemical output to reach 100 million tons by 2015.