Oct 25, 2021, 11:02 PM
Journalist ID: 1843
News Code: 84517786
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Iran planning to raise annual petrochemical products to 176m tons

Kish Island, IRNA – Deputy oil minister and managing director of National Iranian Petrochemical Company (NIPC) said here on Monday that Iran is planning to raise its annual petrochemical products from current 83 million tons to 267 million tons in six years.

Behzad Mohammadi who was speaking at the opening ceremony of "The Investments Opportunities in Oil, Gas, Petrochemical, and Renewable Energies, IFAX 2021 Exhibition in Kish Island", further reiterated that the plan, programmed to end in the year 2027, has several side projects which are all under construction, and therefore, it will complete right on time.
Once completed, the country’s investments in petrochemical sector will increase from its current 79 billion dollars up to 14o billion, he added.
Mohammadi reiterated that the annual income of the country, too, will increase from its current 14 billion dollars a year up to 53 billion.
In this respect six chains of the country’s petrochemical industries, including the methanol, propylene, benzene, butylene, urea, and ethylene have been identified and in the first phase 33 opportunities for investments in them have been provided, he said.
The deputy oil minister said that the total investments in those projects will be 3.5 billion dollars, and after they will be put to use Iran’s annual production will increase 3.5 million tons.
It is expected that the investors will grasp these opportunities and play role in expansion of the country’s exports, he added.
The Investments Opportunities in Oil, Gas, Petrochemical, and Renewable Energies, IFAX 2021 Exhibition which was opened in the presence of the president’s advisor and secretary of the Free Trade Zones Supreme Council, is comprised of 80 booths specializing in all various fields, in which 125 investor companies, including 45 active science-based companies in various development projects of energy, gas, oil, petrochemical products, and renewable energies are participating.


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