Iran planning to increase petrochemical production by 8.5 million tonnes
Iran is implementing 15 petrochemical projects, which when complete, will increase the country’s total petrochemical output by 8.5 million tonnes before the end of the next Iranian calendar year (March 20, 2017).
Marziyeh Shohadaei, director of projects at the National Petrochemical Company (NPC) said the fifteen underway projects are part of about 60 petrochemical projects, which are being implemented across the country by the NPC.
“On the whole, these 60 projects need a total investment of about USD 33.4 billion and will double the production capacity of Iran's petrochemical industries,” the official said.
She added that six or seven petrochemical projects will be finished by the end of the current Iranian year (March 20, 2016) to boost the country’s petrochemical output by 2.7 million tonnes.
“Next year, eight more projects will be implemented to cause another boost of about 5.8 million tonnes in Iran's petrochemical production,” the official said.
Shohadaei stated that the NPC gives priority to those projects, which have so far progressed 60-100 percent, with projects progressing 20-60 percent being the second priority for the company. “The third priority includes those projects that have progressed less than 20 percent,” she added.
Earlier in may, Iran's deputy minister of petroleum and managing director of the National Petrochemical Company, Mohammad Hassan Peivandi, told Iranian media that the company has plans to boost Iran's petrochemical production capacity to 180 million tonnes during the next 10 years by attracting necessary funds to the sector.
He added that when the goal is achieved, Iran will rank first among Middle Eastern countries in terms of petrochemical production.
Peivandi stated that Iran's petrochemical output will hit 120 million tonnes in the next four years with propylene production being a priority because production of its precursor, methanol, will increase from the current level of 5 million tonnes to 24 million tonnes in the next few years.