Iran Eyes 120 mt/y of Petchem Output by 2021

Iran Eyes 120 mt/y of Petchem Output by 2021
(Monday, October 30, 2017) 18:08

TEHRAN (NIPNA) – A senior Iranian petrochemical official says plans are under way to bring Iran's petrochemical production capacity to 120 million tons per year by 2021.

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.

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