Iran’s targets 72 mln tons of petchem output per year

Business Materials 22 April 2017 13:57 (UTC +04:00)

Tehran, Iran, Apr. 22

By Mehdi Sepahvand, Fatih Karimov – Trend:

Iran’s petrochemical output is expected to hit 72 million tons per year by March 2018, Iran’s deputy oil minister, Marziyeh Shahdaei, said.

She made the remarks at the inauguration ceremony of the 13th edition of Iran Petrochemical Forum (IPF) in Tehran Apr. 22, Trend's correspondent reported form the event.

Shahdaei, who heads the National Petrochemical Company (NPC) of Iran, said that the country’s petrochemical production capacity currently stands at 62 million tons per year.

She added that seven petrochemical projects are underway, which, once launched, will bring the country’s petrochemical output to 72 million tons, worth $9 billion.

Shahdaei further said that Iranian petrochemical sector’s net sale was 28 million tons, worth $15 billion in last fiscal year (ended March 20), with 21 million tons of the figure exported abroad ($9.4 billion).

In last fiscal year, Iran launched 11 petrochemical projects with a total investment of $3.4 billion, the official said.

The 13th edition of Iran Petrochemical Forum hosts over 100 participants, representing 74 foreign companies from 18 countries including France, Britain, Denmark, Germany, India, Bahrain, Lebanon, Norway, Romania, Turkey, Singapore, Switzerland, Belgium, Japan, the
Netherlands, Taiwan, Italy, and the United Arab Emirates.

With the motto of “Bringing the World of Petrochemicals Together” the two-day event opened in Tehran on April 22.

Iran's Sixth Five-Year National Development Plan (2016-2021) has envisaged attraction of $40 billion investment to the petrochemical sector.

In this regard, National Petrochemical Company (NPC) of Iran and private petrochemical companies are making their most efforts to take necessary measures for attracting foreign companies to invest in the country.