Addressing the 12th Iran Petrochemical Forum (IPF 2015) which opened here on Sunday, he said, "Iran will increase its petrochemical products 4.5 million tons by the end of the current calendar year to 20 March 2016 despite the sanctions and will add another 4.5 million tons by the end of the next calendar year by 20 March 2017."
He said the total value of petrochemical industry’s products will exceed 27 billion dollars by then.
IPF aims at introducing the capacities of Iran's petrochemical industry in the post-sanctions era.
The NPC CEO also marked Iran’s advantages for investment which include 2000-km long land and sea border, young educated labor force, its location in the crossroad of Middle East and Central Asia, and high engineering capacity as well as tax exemptions in the free trade zones.
Some 97 foreign companies from 25 countries participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.
More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherland, Russia, and US are taking part in the event, according to NPC Vice President Mohammad-Hassan Peyvandi.
Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, will discuss the core issues that the industry is facing with the emphasis given to Iran.
It provides an ideal platform where stakeholders and key players in the global petrochemical sector meet to exchange knowledge and address the latest advancements and best practices which are capable of shaping the future of the industry.
Following the historic nuclear agreement, Iran is also using the event to unveil its post-sanctions projects and plans for further expanding the Iranian petrochemical output capacity from the current 60 million t/y to over 138 million t/y in 2020 and eventually to 180 million t/y by 2025 with an investment of over $80 bn.
NPC seeks to use Iran’s natural gas reserves as raw material to produce propylene and propylene derivatives to provide feed for the expansion of local downstream industries.