Iran’s petrochemical production rises by 34 million tons

Posted on June 20, 2012

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Iran’s petrochemical production has risen from 20 million tons to 54 million tons per year over the past 7 years, Shana news reported.

During the period from 2005 to 2012, 38 petrochemical projects came on stream of which four projects were launched in 2006, six projects in 2007, seven projects in 2008, six projects in 2009, 12 projects in 2010 and two projects in 2012.

Another nine other projects are planned to come on line during the current Iranian calendar year to March 2013.

NF3 project in Imam Khomeini petrochemical complex, first and second olefin units in Kavian petrochemical plant, heavy poly ethylene in Kermanshah petrochemical plant and the second phase of Damavand power plant are among the projects which are going to come on line this year.

By startup of these projects, the country’s petrochemical production capacity will go up by more than 8 million tons per year.

Iran is seeking new markets for its petrochemical products, according to National Petrochemical Company (NPC) Managing Director Abdolhossein Bayat.

Bayat recently said that new investments and commissioning of new projects will change Iran into a leading petrochemical powers in the region in coming years.

On April 18 he said that Iran exported $14 billion worth of petrochemical products to 60 countries during the previous Iranian calendar year (March 2011-March 2012).

According to Bayat, based on fifth five year development plan’s targets, more than seventy petrochemical projects are going to be implemented up to 2015 which need $50 billion investment.

NPC’ top executive said expanding petrochemical industry curbs selling raw materials leading to produciton of value-added products.

Bayat further said petrochemical products were accounted for 43.2 percent of non-oil exports last Iranian calendar year ended on 19th March 2012.

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Posted in: iran economy