Iran’s petchem output to rise by 14.2% until March

NPC’s head of planning and development Hassan Abbaszadeh said on Tuesday that the annual output of petrochemicals in Iran is expected to reach 80 million metric tons (mt), up from 70 million mt reported for the year to late March this year.

Abbaszadeh said the total production capacity in the Iranian petrochemical industry is around 93 million mt per year, adding that feedstock supplied to plants across the country is around 47.5 million mt of which some 70% is natural gas, Press TV reported.

The NPC official said Iran sold some 40 million mt of petrochemical products worth $27 billion in the year to late March of which some 28 million mt were exported to other countries, generating $16 billion in hard currency revenues for the country.

He said a bulk of development plans introduced for the Iranian petrochemical sector would focus on the increased output of six basic products, including ethylene and propylene.

He said the current output capacity of basic petrochemicals in Iran is around 58 million mt, making the country the second largest supplier of those products in the region after Saudi Arabia.

MNA/PR