Iranian petrochemical facilities produced over 19.69 million tons of petrochemical products in the first five months of the Iranian calendar year of 1394 (starting on March 21).
More than 1.1 million tons of the petrochemical products, worth 19,944 billion rials, were supplied to domestic market, while more than 1.54 million tons, worth $750 million, were exported.
The petrochemical output is expected to reach more than 50 million tons this year, showing six million tons of increase.
Petrochemical production of the country stood at 40.5 million tons in 2013-2014 and 44.5 million tons in 2014-2015.
Iran produced over 15.66 million tons of petrochemical products in the first four months of the current Iranian calendar year (March 21-July 22).
The country’s petrochemical output stood at over 4.15 million tons in the fourth calendar month of Tir (June 22-July 22).
Meanwhile, Iran exported more than 3.1 million tons of petrochemical products, worth $870 million, in the four-month period.
Based on official statistics, Iran has a capacity to produce 60 million tons of petrochemical products per year. The country’s annual petrochemical export is currently about 17 million tons.
National Iranian Petrochemical Company’s Managing Director Abbas She’ri Moqaddam said in April that some $30 billion of investment opportunities have been identified in Iran’s petrochemical sector, which will be certainly welcomed by European and Asian investors after the sanctions against the country are lifted.
In June 2014, She’ri Moqaddam said Iran plans to boost annual petrochemical production capacity to 180 million tons from around 60 million tons at present.
Once the semi-finished petrochemical projects are completed and a number of planned petrochemical units come on stream, the country’s petrochemical output will be increased to 180 million tons per year, he added.
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