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Iran Eyes 50% Petchem Growth in 2nd Leap

Iran Eyes 50% Petchem Growth in 2nd Leap
(Thursday, December 31, 2020) 11:47

TEHRAN (NIPNA) – The CEO of the National Petrochemical Company (NPC) said Iran’s petrochemical production capacity would increase by 50 once all the projects in the second leap of the industry come online by 2022.

Speaking on the occasion of the Petrochemical Day, Behzad Mohammadi said by March 2022, 27 petrochemical projects will have come on stream across the country, bringing Iran’s petrochemical production capacity from 66 million tons by March 2020 to 100 million.

He said the country’s petrochemical revenue would also increase from 15 billion dollars in 2019 to $25 billion by 2022.

The NPC CEO added that the current Iranian calendar year which began on March 20 was the golden year of the industry as 17 projects were planned to come online in the industry with $11 billion investment.

So far this calendar year, 9 new petrochemical projects have become operational. Construction of some of the projects was hampered by the coronavirus outbreak but they will all come on stream by the first quarter of the next calendar year to April 2021.

The remaining 8 projects will add 25 million tons to the country’s annual petrochemical production capacity, he went on to add.

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