Managing Director of National Petrochemical Company (NPC) Abdolhossein Bayat said the newly-inaugurated petrochemical projects will considerably increase Iran’s foreign exchange revenues.
President Mahmoud Ahmadinejad inaugurated four petrochemical projects in Bandar Imam Petrochemical Complex in Iran’s southwestern city of Mahshahr in Khuzestan province on Monday.
“The country will gain $1.9 million every year from the four petrochemical projects that went on stream on Monday,” Bayat said on Tuesday, Fars News Agency reported.
The Iranian official noted that the projects will increase Iran’s petrochemical capacity by 2.69 million tons.
Bandar Imam Petrochemical Complex, one of the largest industrial establishments in Iran, is located along the Persian Gulf coastline.
Petrochemical products of the complex include ethane, propane, butane, 5-carbonate or heavy oil and fuel gas.
Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.
Iran exports petrochemical products to more than 60 countries. The main destinations include the Far East, Central Asia, Southeast Asia and Africa.
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