News ID: 199248
Published: 0224 GMT August 23, 2017

Iran expects $5b from petrochemical exports

Iran expects $5b from petrochemical exports

Export of Iran's petrochemical products is expected to reach 11.5 million tons in the six months to September 22 while the revenues will reach $5.25 billion, according to figures released in an official document by Iran's National Petrochemical Company which was procured by Trend News Agency.

Petrochemical output for the one year period to August 21 is also expected to stand at 51.9 million tons, compared to 51.3 million tons in the year to August 21, 2016.

The document also listed 58 new petrochemical projects which are under development with nominal capacity of 58.4 million tons/year.

Iran plans to inaugurate seven petrochemical plants by March 2018 and a further 23 the following year. The country needs $20 billion in additional investments to double its production capacity by 2022 and $35 billion more to increase the figure to 150 million tons/year by 2025.

Iran's nominal petrochemical production capacity stands at 73 million tons per year.

Islamic Republic's petrochemical sector is one of the rapidly growing industrial sectors, which experienced a seven percent growth in nominal capacity during the last fiscal year.

Iran's actual production level during the previous year (2014-2015) was 46.41 million tons.

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