SHANA -- Iranian Minister of Petroleum Bijan Zangeneh said that the value of Iran’s petrochemical products would reach $37 billion by 2026.

According to ICANA, the official said that two leaps had been materialized in Iran’s petrochemical industry so far.

As he said, the first leap took place in the 2010s and the second leap would take place by 2021.

He also said that preparations had started for the third leap in the industry which would come to fruition by 2025.

Iran’s petrochemical revenues stood at 15 to 16 billion dollars after the first leap and are expected to reach $25 billion by the second leap.

Zangeneh added that by 2026 Iran’s petrochemical production capacity would exceed 130 million tons per year, generating $37 billion for the country.