Iran bets on 38.4 percent growth in petrochemical capacity by March 2021
Iranian petrochemical industry’s capacity is expected to grow by 38.4% by March 2021, with 17 projects set to come on stream in the period, Kallanish Energy reports.
According to Behzad Mohammadi, Iran’s deputy minister for petrochemical affairs, the projects are worth $11.5 billion. He told the country’s energy ministry news service Shana that installed capacity from these commissions will increase by 25 million tonnes per annum (Mtpa).
The described the current Iranian calendar year, which ends on March 20, 2021 as the “golden year for the petrochemical industry.” Late last month, Iran saw the first of these projects come on stream, the Miandoab Petrochemical Project.
Iranian President Hassan Rouhani has said the projects will double the country’s petrochemical production revenues to $25 billion. He also urged the private sector to invest in downstream and petrochemical projects to boost development in the sector.