Iran spends $1.5-2 billion annually to procure oil equipment

Iran Materials 16 May 2012 19:00 (UTC +04:00)

Azerbaijan, Baku, May 16/ Trend F.Milad/

Today, Iran spends $1.5-2 billion to procure equipment and goods for
its petrochemical industry, the deputy oil minister said.

Abdolhossein Bayat added that 70 petrochemical plans are projected to be implemented by the government, the Mehr News Agency reported.
Orders for manufacturing petrochemical goods will not be given to foreign producers, only if domestic capacities have been fully utilized, he noted.

Nine petrochemical projects will be implemented in the current Iranian year which will boost the country's output by 8 million tons, the Shana News agency reported.

The projects will create over 3600 jobs, the report added. The Iranian calendar year began on March 20.

Iran has explored new destinations to export its petrochemical products, said the managing director of the National Petrochemical Company (NPC).

Abdolhossein Bayat told the Mehr News Agency that the NPC has been identifying new export targets since two years ago. "Currently, exporting petrochemical products to Europe is regularly underway," he said, adding that boosting exports of polymer products is on the agenda.