Tehran, Iran, Dec. 9
By Mehdi Sepahvand - Trend:
An official with Iran's National Petrochemical Company says the country's petrochemical output is estimated to rise by eight to 12 percent after March 21 - the day marking the start of the next fiscal year in the country.
Alimohamad Bosaqzadeh said the optimization of existing petrochemical units will count for seven percent of the production boost, while the newly operational units will bring about the other 93 percent improvement, Shana agency reported Dec. 9.
"If that happens, 95 percent of the National Petrochemical Company's plans will come true," the official said.
"By late this year, Iran's petrochemical output will hit 47 million tons annually," he noted.
There are 67 unfinished petrochemical projects in Iran, with advancements between 10 and 90 percent.
Iran hopes to realize an output of 120 million tons a year if these projects come on stream.
The country also has plans for 36 new projects that need a total estimated fund of $41 billion.
These could increase the country's petrochemical output by 60 million tons a year.