Baku, Azerbaijan, Nov. 4
By Fatih Karimov– Trend:
Iranian petrochemical plants produced 31 million tons of petrochemical products during the first seven months of current fiscal year that started March 20.
The figure is 9 percent more compared to the same period of preceding year, Ali Mohammad Bosaqzadeh, head of the production control department at the National Petrochemical Company (NPC) said, the company reported on its official website.
Output of 57 Iranian petrochemical complexes stood at 4 million tons during the Iranian calendar month of Mehr (Sept. 22-Oct. 22).
The country’s nominal production capacity is planned to reach 70 million tons per year by March 2018.
Bosaqzadeh said that petrochemical exports increased by 13 percent in terms of volume to 13 million tons during the 7-month period.
The value of the exported petrochemical products reached $6.5 billion, he added.
He further said that domestic sale of petrochemical products also witnessed increase by 14 percent in terms of volume to 10 million tons.
Iran plans to inaugurate seven petrochemical plants in the current year and 23 more next year.
In total, 64 petrochemical projects are expected to become operational in Iran by 2021 to double the country’s nominal production capacity in the next five years.
Iran needs $20 billion of investment to reach the targeted plan and further $35 billion of investment is required to increase the figure to 150 million tons per year by 2025.