Azerbaijan , Baku, March 14 / Trend, A.Yusifzade /
Iran 's petrochemical production will rise to over than 40 million tons until the end of current Iranian year (ending March 20, 2011), PANA reported quoting Iran's Deputy Oil Minister Abdolhossein Bayat as saying.
Bayat put the amount of Iran's petrochemical production at 37 million tons during eleven months of the current Iranian year (March 21, 2010- February 20, 2011).
Completion of 63 petrochemical projects is on the Oil Ministry's agenda and $47 billion is needed to this end, Bayat said.
According to Bayat, Iran has exported 14.6 million tons worth roughly $10 billion of various petrochemical products since March 21, 2010, representing increase by 25 and 67 percent respectively.
Meanwhile the latest PCC's data show that petrochemical products have been exported mainly to Far East and Europe.
Earlier Iran's minister of petroleum Masoud Mirkazemi said that by launching new petrochemical projects over the Fifth Five Year Development Plan up to 2016, Iran's petrochemical production capacity will rise to 95 million tons per year.
Iran produces 25.8 percent of petrochemical products of the Middle East and 2.4 percent of the global output.
Petrochemical Commercial Company with 20 years of experience is the largest supplier of Iran's Petrochemical products to the international markets. It is also one of the major Middle-Eastern companies, which is involved in marketing and sales of petrochemical products to the domestic and overseas markets.
