Iran eyes $20b in petchem exports

 

SHANA- Iran will most likely be generating over 20 billion dollars in petrochemical revenues within the next few years once new projects come on-stream, an official with National Petrochemical Company (NPC) says.

 

Addressing a conference on the Economy of Resistance, Farnaz Alavi, director of planning and development at NPC, said the country’s revenues of petrochemical exports hit 14 billion dollars in 2015 but will cross $20b once it finalizes the under-construction projects in the sector.

She said the domestic revenues of petrochemical sales will also rise by at least 25% by the time the project’s production hits full tilt which will bring the revenues to $7.1b.

Alavi said Iran’s petrochemical sector can yield up to 62 billion tons of petrochemicals annually which is up by 4.2 million tons from 2015.

“By the time Kurdistan, Pardis and Kaveh projects come on-stream Iran’s petrochemical production capacity will hit 66.5 million tons/year,” the official added.

 

Iran’s total petrochemical output is estimated to hit 50.1 million tons by the end of the current Iranian calendar year to March 20, she said, adding exports will reach 20 mt by then.