Iran needs $32B for 50 petchem projects
Baku, Azerbaijan, Aug. 23
By Dalga Khatinoglu – Trend:
Iran needs $32 billion investment to complete 50 petrochemical projects to add 41 million tons per year to its petrochemical products output.
Iran has increased the petrochemical production capacity by 5.5 million tons per year (mt/y) in August 2013, when President Hassan Rouhani took office, to 65.4 mt/y in August 2016.
According to an official report, obtained by Trend, currently only 60.6 mt/y of the mentioned total production capacity is active.
The report says that the country's petrochemical products output increased from 41.3 mt in a period from August 2012 to August 2013 to about 56.7 mt August 2015 to August 2016.
The petrochemical export volume also increased from 12.8 mt in the first 12 months of Rouhani's presidency to 18.8 mt in a 12-month period to August.
The report says that Iran increased natural gas consumption in power plants by 24 percent last fiscal year compared to a year to March 2012.
Consumption of ethane and gas condensate also increased by 40 percent and 11 percent during the mentioned period.
Iran consumed 15.9 billion cubic meters (bcm) of gas, as well as 5.58 mt of gas condensate and 1.63mt of ethane last fiscal year, while these figures are expected to reach 16.9 bcm, 5.4 mt and 3.18 mt in current fiscal year respectively.