Addressing the first trade
facilitation committee and export development of the Tehran Chamber of Commerce,
Mehdi Sharifi Niknafs, the managing director of the Petrochemical Commercial
Company (PCC), said Iran's petrochemical production capacity is planned to double
by 2021 from currently 60 mt/y.
Niknafs, who is also a member of
the board of representatives of the Tehran Chamber of Commerce, said it is
estimated that by 2019, 22% of the world's ethylene output will be supplied by petrochemical
facilities operating in the Middle East.
The PCC official said existence of
abundant petrochemical feedstock at a competitive price is an advantage for Iran's
petrochemical industry.
As a member of the Organization
of the Petroleum Exporting Countries (OPEC), Iran sits atop the world's biggest
natural gas reserves that can be tapped for feeding petrochemical facilities.