Iran to increase petrochemical output by 2 million tons by year-end

Tehran, Iran, Oct. 5

By Milad Fashtami - Trend:

Iran will launch 6 new petrochemical complexes by the end of the current calendar year (March 20, 2015).

Once the projects come on stream, the country's total petrochemical production capacity will be increased by 2 million metric tons, Iran's Mehr News Agency reported on October 5.

Takht-e Jamshid PVC production unit, the second phase of Kavian Petrochemical Complex, the second phase of Karoun Petrochemical Complex, Mahabad Petrochemical Complex, Hegmataneh Petrochemical Complex, and Lorestan Petrochemical Complexm are the mentioned projects.

Iran' total petrochemical production capacity currently stands at 60 million metric tons.

According to Deputy Director of National Petrochemical Company (NPC) Mohammad Hassan Peyvandi, NPC has requested the Iranian government to allocate $5-10 billion out of the National Development Fund to finish the incomplete petrochemical projects.

"The money will be allocated to projects that are more than 60 percent complete," he said, Iran's IRNA News Agency reported.

Iran's ISNA News Agency reported on September 29 that eight methanol-producing units will come on stream in Iran in the next five years.

Deputy Director of National Petrochemical Company (NPC) Mohammad Hassan Peyvandi said that the units will have the capacity to produce 19 million metric tons per year.

"Once the units come on stream, Iran will become one of the world's biggest methanol producers," Peyvandi explained.

"This will send a great shock to the global market," he said, adding that Iran's current methanol production rate stands at 5 million metric tons per year.

Marzieh Shahedaee, an official with the NPC, said on September 28 that there are ten incomplete petrochemical projects in Iran that will come on stream by the end of the next calendar year (March 20, 2016).

"The projects are currently over 60 percent complete," she said, Iran's IRNA News Agency reported.

"Takht-e Jamshid PVC production unit, the second phase of Kavian Petrochemical Complex, the second phase of Karoun Petrochemical Complex, West Ethylene pipeline, Lorestan Petrochemical Complex, Kurdestan Petrochemical Complex, Ilam Petrochemical Complex, Mahabad Petrochemical Complex, and Hegmataneh Petrochemical Complex are among the mentioned projects," she said.

According to Shahedaee, a total number of 67 incomplete petrochemical projects will be transferred to the country's Sixth Five-year Socio-Economic Development Plan (2016-2020).

"The mentioned 67 projects have the capacity to produce 60 million metric tons per year," she said, adding that the project will come on stream at the cost of $40 billion.

"If the nuclear talks between Tehran and the P5+1 group of countries fail, the development of petrochemical industry will continue slowly," she explained.

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