Iran Eyes USD 20 bilion in Petchem Exports
TEHRAN, March 6 – Iran will most likely be generating over 20 billion dollars in petrochemical revenues within the next few years once new projects come on-stream, an official with National Petrochemical Company (NPC) says.
Addressing a conference on the Economy of Resistance, Farnaz Alavi, director of planning and development at NPC, said the country’s revenues of petrochemical exports hit 14 billion dollars in 2015 but will cross $20b once it finalizes the under-construction projects in the sector.
She said the domestic revenues of petrochemical sales will also rise by at least 25% by the time the project’s production hits full tilt which will bring the revenues to $7.1b.
Alavi said Iran’s petrochemical sector can yield up to 62 billion tons of petrochemicals annually which is up by 4.2 million tons from 2015.
“By the time Kurdistan, Pardis and Kaveh projects come on-stream Iran’s petrochemical production capacity will hit 66.5 million tons/year,” the official added.
Iran’s total petrochemical output is estimated to hit 50.1 million tons by the end of the current Iranian calendar year to March 20, she said, adding exports will reach 20 mt by then.
Source: Shana
About The National Petrochemical Company:
The National Petrochemical Company (NPC), a subsidiary to the Iranian Petroleum Ministry, is owned by the government of the Islamic Republic of Iran. It is responsible for the development and operation of the country’s petrochemical sector. Founded in 1964, NPC began its activities by operating a small fertilizer plant. Today, NPC is the second largest producer and exporter of petrochemicals in the Middle East .Over these years, it has not only expanded the range and volume of its products, but it has also taken steps in areas such as Research and Technology to achieve more self-sufficiency.
