TEHRAN, Feb. 20 (Shana) -- Iran's National Petrochemical Company (NPC) has planned to raise the country's petrochemical production capacity to 130 million tons per year.

The Planning and Development Bureau of NPC has announced the company is also planning to raise petrochemical output of the country to 123 million tons per year by the end of the 6th five-year development plan.

Besides, the country targets export of 93 mt/y of petrochemicals annually which will fetch it $61bn by the year that ends on March 20, 2021.

The bureau also announced that 21 petrochemical projects have been introduced to Chinese credit line that is valued at $16.76bn while another 19 projects are to be financed by the National Development Fund of Iran (NIFI) for $5.875bn of finances.

Besides, 20 other projects, valued at $5.96bn, are lined up to get NDFI finances and 9 projects, valued at $2.72bn, will be financed by alternative resources.

Iran has defined dozens of petrochemical projects which will triple its annual production capacity from the current 60mt/y to 180mt/y.

By SHANA