Iran to raise annual petrochemical export to Europe by $5 billion

TEHRAN, Apr. 05 (MNA) – The director general of Petrochemical Employers Association announced developing a special plan for $5-billion annual export of petroleum products to Europe in the case of sanctions removal.

The Director General of Petrochemical Employers Association Ahmad Mahdavi, while outlining Iran’s special oil plan in Europe, announced developing a plan of $5-billion annual export of petroleum products to Europe, if sanctions are lifted.

Outlining Iran’s new plans for export of petrochemicals and polymer products to European countries, Mahdavi announced that Iran currently exports some petrochemicals and polymers to Europe in single shipments.

Highlighting that the increase in export of petroleum products to European countries depends on the complete abolition of international sanctions, Ahmad Mahdavi added that along with increased exports to EU countries, there will be the possibility of purchasing and transferring technology, licensing, and opening of finance credit lines.

He stressed that Iran had a special program to export petrochemicals and plastic products to the EU countries.

Noting that an annual average of about $2 billion of petrochemical and polymer products were exported to EU countries before the imposition of international sanctions, Mahdavi stated that Iran’s annual production of petrochemical products is currently about 43 million tons which will rise by 75 to 80 million tons per year following the completion of the projects under way.

Underlining that petrochemical companies face no problem in exporting products to different markets, Mahdavi said, “Iran’s polymer and petrochemical products at the moment are exporting to the African countries, East and South-East Asia, Central Asia, Turkey and South America.”

By Mehr News Agency