TEHRAN Jan 19(Shana)--Iran expects to see its petrochemical production increase by 8.4 million tons by March 2016, the head of National Petrochemical Company said.
Abbas Sheri-Moqaddam said NPC plans to complete 15 half-finished petrochemical projects.
He said the current petrochemical production capacity of Iran stands at 60 million tons, adding that shortage of feedstock has cut its output to 40 million tons.
Sheri-Moqaddam said international sanctions, high banking interest rates and challenges to National Development Fund of Iran and China’s finance are slowing progress of petrochemical sector.
The official said Iran would be able to reach 100 million tons should obstacles be removed.
Sheri-Moqaddam said Iran could earn more than $70 billion from its petrochemical sector if 67 half-finished projects become operational.
By SHANA

 

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