Iran's Petrochemical Commercial Company exported 2.48 million tons of petrochemical products valued at $1.629 billion during March 21-Sept 22.
The company expects that once phases 15-18 of South Pars Gas Field development projects become operational, exports can reach $2 billion by March 19, 2016, reported Shana.
Based on Oil Ministry's policy discouraging the sales of raw materials in a bid to boost employment, the company's annual production of petrochemicals can rise to 120 million tons. It can reach 180 million tons with an investment of $41 billion.
In addition to providing proper feedstock, investment is required for purchasing new equipment for the industry, the company said.