BAKU, Azerbaijan, November 16. Iran plans to launch operations (construction and upgrade of plants, etc.) within the framework of 20 national projects in petrochemical industry, CEO of National Petrochemical Company (NPC), Morteza Shah-Mirzaei said, Trend reports.
According to Shah-Mirzaei, $4.2 billion is expected to be spent on the mentioned projects.
The CEO added that upon completion of these projects, Iran's annual petrochemical production potential will increase by 3.8 million tons.
He also said that the projects will increase the production of various petrochemical products, such as propylene, methanol, ethylene, aromatic and butylene. Shah-Mirzaei estimated that the value of these products will be around $4.4 billion per year.
According to him, some of the companies involved in the projects have already obtained the necessary permits tomake investments.
Currently, Iran's petrochemical production capacity is 92 million tons per year. By the end of the current Iranian year (March 19, 2024), the figure is estimated to reach 95 million tons.
Meanwhile, Iran produced more than 35 million tons of various petrochemical products in the first six months of the current Iranian year (March 21 through September 22, 2023). The figure is expected to reach approximately 78 million tons by the end of the year.
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