Iran plans to add 5 million tons to petchem output

Business Materials 17 October 2016 12:41 (UTC +04:00)

Baku, Azerbaijan, Oct. 17

By Emil Ilgar – Trend:

Iran plans to add 5 million tons per year to its petrochemical production capacity by the end of the current fiscal year (March 20, 2017), the country's oil minister Bijan Namdar Zanganeh said Oct.17.

Currently Iran’s nominal petrochemical production capacity stands at above 60 million tons per day, but the actual capacity is less than 55 million tons.

Zanganeh added that during next four years, some $52 billion worth of investment would be attracted in petrochemical sector.

He didn’t mention the output capacity, but Iran plans to double its petchem production capacity by 2021.