Majlis

7.8% growth in petchem output this year

 

TEHRAN, Sept 21 (Shana) – The Research Center of the Parliament (Majlis) of the Islamic Republic of Iran has predicted that petrochemical output of the country will show a growth of 7.8 percent this year.

The Parliament Research Center, releasing a quarterly function report on economic growth in the Iranian year of 1395 (2016-17), said based on the statistics, released by the National Petrochemical Company (NPC) of Iran, the petrochemical output last year and in the first four months of this year were 46.4 million tons and 17 million tons respectively.

It predicted that the output will reach 50 million tons by end of the current year (to end on March 20, 2017).

The report referred to falling petrochemical output in the years of sanction and said the output started following upward growth.

Meanwhile, Deputy Minister of Petroleum for Petrochemical Affairs and Managing Director of National Petrochemical Company (NPC), Marzieh Shahdaie, said recently that the petrochemical industry had in the past three years, showed about 15.5 percent growth in the past three years and seven percent last year.

Shahdaie said petrochemical exports showed 46 percent growth in the past three years and 12 percent last year.

The increase in the exports had been due to operation of the petrochemical projects in the past two  years.

Seven petrochemical projects in Takhtjamshid facility of Mahshar, in Lorestan petrochemical facility, the sulfuric acid project in Orumieh, the phase two of Kavian petrochemical facility, the ammonia project in Marvdasht, the glycol ethylene Morvarid project, and Mahabad petrochemical project added about four million tons to the petrochemical capacity at a cost of about 2,200 million euros.

By end of this year, seven more projects, including phase one and two of West Ethylene Pipeline, phase two of Karoon Petrochemical facility, Kordestan polyethylene, phase three of Pardis petrochemical facility, Entekhab petrochemical facility, Takhtjamshid Pars Asaluyeh petrochemical facility and Dalahu petrochemical facility, will be completed and put into operation.

Based on the NPC schedule, 55 projects should be operational, out of which 15 are operational and 40 will remain, whose completion by next five years will need an investment of 20 to 22 million euros.

According to Shahdaie, for the next 10 years, 28 new projects with an estimated value of 30 billion euros are planned, needing foreign investment. To this end, the NPC’s policy is encouraging foreign companies to be present in Iran.

By SHANA