Iran to Increase Annual Pet-Chem Output by 50%

Iranian First Vice-President Eshaq Jahangiri said that Iran’s petrochemical production capacity is expected to reach 90 million tons per year in 2020, saying that the industry’s annual output will witness an almost 50% rise from the current yearly production of 64 million tons.

While addressing a nationwide governors’ conference in Tehran on Thursday, Jahangiri said that the boost would be made possible once 18 new petrochemical projects came online by 2022.

Jahangiri, who was speaking in the Southern province of Fars, said that such growth in the petrochemical sector of the country would be unprecedented.

ALst month it was announced that Iran is building 14 petrochemical projects in Phase I of Parsian Energy Intensive Industrial Special Economic Zone (PEIISEZ) which will increase the country’s petrochemical output by 15 million tons per year.

The deputy petroleum minister for petrochemical affairs said implementation of 14 petrochemical projects in the first phase of PEIISEZ was expected to increase Iran’s annual petrochemical production capacity by 15 million tons with $19 billion of investment.

Behzad Mohammadi, who is also the CEO of the National Petrochemical Company (NPC), said implementation of the projects would create a new movement in the southern province of Hormuzgan.

He said of 55 petrochemical plants operating across the country, 30 were operating in Assaluyeh, Kangan and Dayyer, adding 17 projects were also under construction and dozens of others were being pitched for financing.

source: Farsnews