BAKU, Azerbaijan, August 12. As many as $24 billion should be spent to achieve the goals of boosting petrochemical production in Iran by 2029, Special Assistant to the Deputy Minister of Oil of Iran for Petrochemical Affairs Afshin Gholamalipour told local media, Trend reports.
As per his assertions, by the specified year, there is a strategic initiative to augment the production capacity of Iran's petrochemical outputs to an estimated 132 million tons annually.
Gholamalipour articulated that as of the conclusion of the previous fiscal year (March 20, 2025), the production capacity of Iran's petrochemical portfolio escalated to an impressive 96.6 million tons annually. At present, a diverse array of petrochemical derivatives is synthesized across 76 operational petrochemical complexes nationwide.
The Iranian representative indicated that the aggregate production of petrochemical commodities stands at 66 million metric tons annually. The fiscal performance of Iran's petrochemical sector from the domestic arena stands at $11 billion, while the export revenue is quantified at $13 billion.
To note, approximately $87 billion was spent on Iran's petrochemical sector from 1978 through 2022.
In total, Iran is expected to spend $100 billion on the construction of facilities within the framework of 144 petrochemical projects, raising petrochemical production by 140 million tons.
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