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5-Month Petchem Export Revenue up 50% Y/Y

5-Month Petchem Export Revenue up 50% Y/Y
(Monday, August 16, 2021) 20:24

TEHRAN (NIPNA) – Iran’s petrochemical export revenue has risen by approximately 50% in the first 5 months of the current Iranian calendar year which began on March 21 compared to the same period last year.

According to Tondgouyan Petrochemical Company, the secretary general of Iran's Association of Petrochemical Industry Corporation (APIC), Ahmad Mahdavai, told reporters on Sunday that currently no disruption has been recorded in production and export of petrochemicals despite the stifling US sanctions on Iran, adding the new administration must pay special heed to the industry as one of the strategic, hard currency-generating sectors of the country.

He stated that one of the reasons for the high hard currency generation of the industry is the increase in the average price of petrochemical and polymer products by $80 to $100, adding that the production capacity of Iran's petrochemical industry will soon reach more than 100 million tons and later to 137 million tons per year.

The APIC Secretary General further stated that in the current situation, more than 50% of the country's hard currency needs are met by the petrochemical industry, calling on Ebrahim Raeisi’s administration to pay special attention to the sector.

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