Iran plans to add 2m tons to petrochemical output

Business Materials 10 December 2014 15:01 (UTC +04:00)

Baku, Azerbaijan, Dec. 10

By Fatih Karimov - Trend:

Iran plans to add 2 million metric tons to its petrochemical output next year, Abbas Sheri-Moqaddam, Managing Director of Iran's National Petrochemical Company, said.

Sheri-Moqaddam said four petrochemical projects will come on stream next year, which will add 2 million metric tons to the country's petrochemical output, Iran's Mehr news agency reported on Dec. 10.

The four petrochemical units will be put into operation in the first half of the next year (Sept. 22, 2015), he added.

Ali Mohammad Bosaghzadeh, an official with the National Petrochemical Company, said the country's nominal production capacity is 54 million metric tons.

"Iran's total petrochemical output capacity stood at 42.5 million metric tons in the previous year," he explained.

"We are not using about 10 million metric tons of our production capacity," the official said, blaming feed shortage and lack of storage capacity for the issue.

According to the Custom Administration's monthly report, published on Dec.4, Iran exported 11.339 million metric tons of petrochemical products valued at $8.961 billion during first eight months of the current fiscal year, which started on March 21.

The volume and value of Iran's exported petrochemical products increased by 22.05 percent and 28.07 percent in comparison with the same period last year.

Petrochemical products shares 28.5 percent of Iran's non-oil exports value (including condensate) in this period.