Iran eyes to bring production of petrochemical industry to maximal capacity

Business Materials 21 January 2020 14:20 (UTC +04:00)
Iran eyes to bring production of petrochemical industry to maximal capacity

BAKU, Azerbaijan, Jan. 21

By Elnur Baghishov - Trend:

Iran's National Petrochemical Company (NPC) is intending to cooperate with the country's petrochemical plants to bring their output to the amount envisaged by their total production capacity, NPC Production Control Manager Jalal Mirhashemi said, Trend reports with reference to company's website.

In accordance with the relevant program designed by the NPC, two million tons will be added to the total production of the plants in the upcoming Iranian year (from March 21, 2020 to March 21, 2021) and thus, their total output will be closer to the designed capacity, Mirhashemi said.

The NPC production control manager added that it is possible to benefit from the total capacity of the plants by studying manufacturing facilities and difficulties they are facing, without spending big funds.

Mirhashemi noted that special attention is paid at further developing cooperation with Iran's Petroleum Ministry, the National Iranian Oil Company (NIOC), the National Iranian Gas Company (NIGC) and other companies of the petrochemical sector. This aims to expand the range of petrochemical products, meet domestic demand and increase Iran's share in export markets.

The production volume of 66 million tons will increase up to 100 million tons in Iran’s petrochemical sector by 2022, and revenues from $17 billion up to $25 billion.

The production volume will reach 133 million tons in Iran’s petrochemical sector, and revenues will reach $37 billion as a result of implementing 28 projects by 2026.