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Iran Eyes New Petchem Output Record

Iran Eyes New Petchem Output Record
(Tuesday, August 3, 2021) 13:12

TEHRAN (NIPNA) -- The Deputy Minister of Petroleum for Petrochemical Affairs said the country was expecting to set a new record in production of petrochemicals in the current calendar year, which began on March 21.

Addressing a ceremony to celebrate the golden year of petrochemical industry (the calendar year of 1399 which ended on March 20) on Sunday, Behzad Mohammadi said the fact that 17 projects came online during the year adding 25 million tons to the country’s annual production capacity is an unrepeatable fact in the industry.

He said more projects were slated to be launched during the year but their production was hampered due to the coronavirus outbreak in the country.

Mohammadi, who is also the CEO of the National Petrochemical Company (NPC), said an investment of $11.4 billion was made in the 17 projects.

Currently 64 petrochemical plants and 3 utility facilities in Iran’s petrochemical industry supply 90 million tons per year of petrochemicals, he said, adding the sector was fed with 40 million tons of feedstock during the year (an equivalent of 1 million barrels of oil per day).

The CEO of the National Petrochemical Company pointed to the 1400 plan of this industry, and stated: “According to the plan, 43 million tons of final products will be produced in this industry this year, of which 33 million tons will be exported and 10 million tons will be supplied domestically.”

Mohammadi announced the revenue of the petrochemical industry in the calendar year of 1400 as $21.5 billion, and added: "This is a new record in the petrochemical industry and this industry will become an industry with over $20 billion revenue, which is very important for the country."

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