Iranian petrochemical output capacity to rise up by 4m tons despite sanctions

IRNA – Managing Director of National Petrochemical Company of Iran says that the country will witness four million tons of increase in petrochemical output capacity with inauguration of three important projects on Thursday.

Behzad Mohammadi told IRNA on Tuesday that President Hassan Rouhani is to open three big petrochemical projects on Thursday.

The projects with investment of 1.57 billion dollars include Kimia Pars Middle East, Kaveh and Lorestan Catalyst, he said.

Among total 27 petrochemical projects planned to be inaugurated by the next two years, some 17 plants will open till the end of the current Iranian year on March 20, Mohammadi said.

With opening 17 plants, industrial capacity in the country will reach from 66 million tons to 90; and the figure will be 100 million tons earning some 25 billion dollars income at the end of the next Iranian year, Mohammadi added.

Elaborating on petrochemical projects to open on Thursday, the official said Kaveh Methanol is the biggest in the world.

About the projects, Iranian Minister of Petroleum Bijan Zangeneh has said “Kimia Pars Middle East with a daily production capacity of 5,000 tons of methanol, Kaveh Plant with a daily production capacity of 7,000 tons of methanol and Lorestan Catalyst Plant will be inaugurated this week.”

Despite the US maximum pressure and highest level of sanctions on Iran’s industry and oil exports, the country’s petrochemical industry continued its development activities.