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H1 Petchem Exports up 94% Y/Y

H1 Petchem Exports up 94% Y/Y
(Monday, November 15, 2021) 16:42

TEHRAN (NIPNA) -- The director of planning and development of the National Petrochemical Company said $7 billion worth of petrochemical products was exported in the first 6 months of the current calendar year, which began on March 21, up 94% year-on-year.

Hassan Abbaszadeh said: “We expect the exports to cross $14.5 billion by the end of the year.”

Stating that implementation of the second-leap plans of the petrochemical industry is nearing completion, he added: "Thanks to God and the efforts of the petrochemical industrialists, the second leap of the petrochemical industry will reach fruition in the coming months."

He added: "Currently, we have reached 90 million tons of nominal capacity installed in this industry, and we will continue to follow the path and to prioritize new petrochemical industry projects."

The official said that currently 80 petrochemical projects are underway, of which 65 active projects are progressing well, with an average progress of about 35%, while 15 projects are in the early stages.

Director of Planning and Development of the National Petrochemical Company, emphasizing that the capacity of Iran's petrochemical industry after the implementation of these 80 projects will reach 171 million tons per year, said: "These 80 projects will add 80 million tons of capacity to the country's petrochemical output."

Abbaszadeh estimated the investment needed to implement 80 active petrochemical projects at $55 billion, and added: "According to the target, these projects will be completed by 2027 and at the same time with the end of the seventh development plan of the country."

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