Baku, Azerbaijan, April 21
By Gazenfer Hamidov – Trend:
Iran plans to increase its petrochemical and mining exports capacity during the current fiscal year, started March 20, 2018, Mojtaba Khosrotaj, the head of Trade Promotion Organization of Iran, said.
Petrochemicals and mining products are Iran’s two major sectors in exports, he said, adding that in the current year it is planned that the production and export capacities of the sectors with inauguration of new projects in various provinces.
Khosrotaj told reporters April 21 that Iran’s petrochemical sector exports is expected to increase by $6.5 billion in the current fiscal year.
It is while the Islamic Republic exported $15 billion worth of petrochemicals in last fiscal year, ended March 20, which was 8 percent less year-on-year.
Earlier Reza Norouzzadeh, managing director of the National Petrochemical Company (NPC), said that Iran’s petrochemical output is expected to reach 63 million tons during the current fiscal year. He added that the export share from the sale is expected to reach 27 million tons, worth $14 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.
Khosrotaj further said that Iran eyes to increase the mining sector exports by $1.5 billion in the current fiscal year.
He added that Iran’s mining sector exports registered an increase by 14 percent in terms of value and stood at $7.5 billion in last fiscal year.
Iran’s non-oil exports, including condensates have witnessed a 6.6-percent increase during the last fiscal year and reached $46.93 billion.