Baku, Azerbaijan, April 4
By Gazenfer Hamidov – Trend:
Iran’s petrochemical output is expected to reach 63 million tons during the current fiscal year, started March 20, Reza Norouzzadeh, managing director of the National Petrochemical Company (NPC), said.
Norouzzadeh said that the sector’s overall sale is expected to reach 47 million tons, worth $24.5 billion, the oil ministry’s SHANA news agency reported April 4.
He further said that the export share from the sale is expected to reach 27 million tons.
The value of the petrochemical exports for the current fiscal year will be $14 billion, Norouzzadeh said.
The official said that currently 60 petrochemical projects with nominal production capacity of 65.4 million tons are underway across the country.
He put the total investment value for the projects at $42.8 billion.
Iran’s nominal petrochemical production capacity stands at 73 million tons per year.
The country hopes to bring the capacity to 120 million tons by 2020 and 160 million tons by 2025.