News Agency - Detail

Iran Petchem Output to Grow 10mt/y by 2017

Iran Petchem Output to Grow 10mt/y by 2017
(Saturday, October 17, 2015) 11:41

TEHRAN (NIPNA) -- Iranian deputy petroleum minister in petrochemical affairs says 16 major petrochemical projects are expected to come on-stream by March 2017 (end of the next Iranian year), adding 10 million tons/year to the country's production capacity.

Abbas Shari-Moqaddam, who also heads National Petrochemical Company (NPC), said 7 of the projects will come online by March 2016 with production capacity of 4 million tons a year.

Speaking on the sidelines of a ceremony to start construction of the ESBR unit of Sadaf Petrochemical Plant, the official added that the country is also eying the addition of 25mt/y of methanol to the country's output by the next few years. 

"We shall be thinking out new projects to convert the excess methanol output into more value added items," said the official, adding only 16mt/y of methanol will be sold on domestic and foreign markets by the next few years. 

Delegations from several Asian and European countries like South Korea, Japan, France and Spain have rushed Iran to hunt out investment opportunities ever since Tehran signed a historic nuclear deal with world powers in July to curb its nuclear program in exchange for removal of financial and economic sanctions against the country. 

"We are not solely focused on purchasing technologies from foreigners; rather we want them to finance our projects," further said Shari-Moqaddam. 
Email is required
Characters left: 500
Comment is required