BAKU, Azerbaijan, Apr. 15
By Elnur Baghishov – Trend:
There will be a major turning point in Iran's petrochemical sector with the launch of 3 more petrochemical facilities in Iran in the coming weeks, Iranian Oil Minister Bijan Zanganeh said, Trend reports citing the IRINN.
He made the remark in an event dedicated to launch of a unit of the Palayesh Sepehr Parsian Company and two catalysts in Iran today on Apr. 15.
The minister emphasized that it was planned to add 25 million tons to annual petrochemical production of Iran with the launch of 17 facilities last Iranian year (March 20, 2020 through March 20, 2021) and this figure will be realized with the launch of 3 more facilities.
Zanganeh added that with the commissioning of another petrochemical facility today, a total of 21.5 million tons are added to Iran's annual petrochemical production.
“Iran's annual petrochemical production will increase to 100 million tons by the end of the current Iranian year (from March 21, 2021 through March 20, 2022),” he said.
The minister also noted that the value of Iran's petrochemical production will reach $40 billion in 2027," he said.
Reportedly, 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.
On Apr.15, a unit of Iran’s Palayesh Sepehr Parsian Company was launched in Iran, and mass production of two catalysts for the production of polypropylene and heavy polyethylene was launched. In this regard, a total of $1.02 billion was spent and 850 people were employed.
The Palayesh Sepehr Parsian Company processes 3.3 million tons of rich gas per year. Also, the company produces 1.3 million tons of ethane, 1 million tons of propane and butane, 1 million tons of gas condensate per year.
