Iran releases monthly report on petrochemical sector's performance
Baku, Azerbaijan, Dec. 14
By Fatih Karimov – Trend:
Iranian petrochemical plants produced 35.6 million tons of petrochemical products during the first eight months of the current Iranian fiscal year (March 20-Nov. 22).
The National Petrochemical Company (NPC) of Iran announced that the country’s nominal output capacity of 57 Iranian petrochemical complexes stands at 62 million tons, forecasting that the annual production level will reach 60 million by March 2018.
The country’s nominal production capacity is planed to reach 70 million tons per year by March 2018.
According to a report released by the NPC, in total 11.467 million tons of petrochemical products, worth 234.6 trillion rials(each USD makes 35,000 rials) were supplied to domestic markets during the 8-month period.
The country also exported 14.7 million tons of petrochemicals, worth $7.397 billion to international markets in eight months.
Some 21 petrochemical complexes located in the port city of Mahshahr have produced more than 13.195 million ton of products in the period, meanwhile the nominal production capacity of the complexes is scheduled to reach 25.6 million tons by March 2018, of that 21 million tons of output will be materialized.
According to the report, 16 complexes located in Asalouyeh city produced over 15.1 million tons of petrochemical products during the 8-month period. The nominal output capacity of these complexes is planed to reach 32.7 million.
Iran plans to inaugurate seven petrochemical plants the current year and 23 more in the 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 worth of investment to reach the targeted plan and further $35 billion of investment is needed to increase the figure to 150 million tons per year by 2025.