BAKU, Azerbaijan, January 13. Iran's petrochemical exports are projected to reach a value of $13 billion in the current Iranian year (from March 20, 2024 through March 20, 2025), the country's Deputy Oil Minister and Executive Director of the National Petrochemical Company (NPC) Hassan Abbaszadeh told reporters, Trend reports.
Abbaszadeh stated that Iran's petrochemical exports totaled $10 billion in the first nine months of this year (from March 20 through December 20, 2024).
He added that domestic petrochemical facilities using raw (shoes, polymer products, clothing, detergents, etc.) have secured $10 billion worth of local raw materials during the same period.
The deputy minister further noted that efforts are underway to increase annual petrochemical production to 132 million tons by 2028. This involves the allocation of $24 billion to 61 projects, with the construction of new facilities being a key focus. To date, $12 billion has been invested in petrochemical production facilities, with 50 percent of their construction completed. These facilities are expected to be operational within the next three years with an additional $12 billion investment.
According to the latest statistics from Iran's Customs Administration, Iran exported 50.7 million tons of petrochemical products worth $19.7 billion in the first nine months. This represents a 32 percent increase in value and a 33 percent increase in weight compared to the same period last year. The Customs Administration clarified that raw materials for petrochemical facilities are also included in the export statistics under the category of petrochemical products.
Currently, Iran has 72 active petrochemical facilities with an annual production capacity of 96 million tons. In the next five years, 61 new petrochemical plants will be established with an investment of $24 billion, increasing production potential by 35 million tons annually. Over the next decade, Iran aims to increase its petrochemical production to 186 million tons.
Iran currently has 72 petrochemical enterprises. The potential of petrochemical production is 96 million tons per year.
In the next five years, 61 new petrochemical plants will be established with an investment of $24 billion, increasing production potential by 35 million tons annually.
Notably, Iran aims to increase its petrochemical production to 186 million tons over the next decade.