Baku, Azerbaijan, Dec. 14
By Khalid Kazimov - Trend:
Iran produces 44.5 million ton of petrochemical products annually and 32.2 million ton of the total amount can be sold, an Iranian petroleum official said during a conference on the improvement of business environment in Tehran Dec. 14.
Marzieh Shahdaei, the director for projects at Iran's National Petrochemical Company (NPC), also reminded that Iranian domestic companies have implemented 350 petrochemical projects worth at $70 billion during the sanction era in the country, SHANA news agency reported.
Speaking about Iran's latest petrochemical projects she said that after launching new projects which require about $32 billion worth of investments, the country's capacity for producing petrochemicals will increase by 64 million tons a year.
She further called on the foreign investors to cooperate with Iranian companies in petrochemical industry.
The production of Iran's petrochemicals stood at 44.5 million ton last year which increased by 10 percent year-on-year. Iran is planning to boost its petrochemical production to 47 million ton by March 2016.
The Islamic Republic plans to attract $70 billion to develop its petrochemical projects aimed at increasing its production level to 120 million ton by 2020 and 180 million ton by 2025 annually.
Since 2002 when Iran's nuclear program became public, the UN, EU, US and several countries imposed sanctions against Tehran justifying the move as an attempt aimed at preventing the Islamic Republic from developing a nuclear weapon. Iran refused that its nuclear program had military dimensions and said its nuclear activities are peaceful.
The sanctions where intensified in mid-2012 targeting Iran's economy and industry particularly its petroleum sector.
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