BAKU, Azerbaijan, Nov. 26
By Elnur Baghishov – Trend:
As many as 5 petrochemical facilities have been launched in Iran with an investment of $3 billion since the beginning of current Iranian year (March 20, 2020) to date, Iranian oil minister Bijan Zanganeh said, Trend reports citing IRINN.
He made the remark today on Nov. 26, in an event dedicated to the launch of facilities in Iran’s oil and petrochemical sectors.
According to Zanganeh, the plant of Lordegan Urea Fertilizer Company is the 6th petrochemical facility launched in Iran in the current Iranian year.
Zanganeh added that this company was established by the Iranian Investment Petrochemical Group.
The minister stressed that the company's annual production capacity is more than 1 million tons.
“As for urea production in Iran, the urea production amounts to 6.6 million tons per year, (excluding the Lordegan Company’s plant's production). This production will reach about 10 million tons by the end of the current Iranian year,” he said.
Zanganeh also noted that Iran's annual urea consumption amounts to 2 million tons. The rest is being exported.
The minister said that a total of 19 petrochemical facilities are planned to be launched in Iran in the current Iranian year with an investment of $11.4 billion.
On November 24, a number of facilities including oil, gas and petrochemical facilities have been launched in Iran. About $1 billion was spent on the construction and launch of these facilities.
Iran is implementing two plans to increase the production of petrochemical products. According to the first plan, Iran's petrochemical production will increase from 66 million tons to 100 million tons per year, and the revenues from $15 billion to $25 billion until March 20, 2022.
According to the second plan, Iran's petrochemical production will reach 133 million tons per year and the revenues will reach $37 billion by March 20, 2026.
Iran produced 31 million tons of petrochemicals last Iranian year (March 21, 2019 - March 20, 2020). Of these, 8 million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.
