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Iran Eyes $37b Petchem Revenue in 2025

Iran Eyes $37b Petchem Revenue in 2025
(Sunday, August 23, 2020) 15:59

TEHRAN (NIPNA) – Iranian Minister of Petroleum Bijan Zangeneh said plans were made to bring the country’s petrochemical export revenues to $37 billion by 2025 from $11b in 2013.

Addressing a televised interview on Wednesday evening, Mr. Zangeneh said the country’s petrochemical revenues were hardly $1 billion until 1997. But the amount reached $11 billion in 2013 and was expected to cross $25b by 2021 and $37b by 2025.

Iran has defined dozens of major petrochemical projects which have been dubbed as the second and third leaps of the industry.

The projects are expected to come to fruition by 2021 (second leap) and 2025 (the third leap).

Zangeneh said Iran would have long buckled under the pressure of the sanctions had it not been because of the petrochemical industry and its hard currency generation.

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