CEO says Petchem Exports to hit $14b this Calendar Year

CEO says Petchem Exports to hit $14b this Calendar Year
(Wednesday, April 4, 2018) 16:17

TEHRAN (NIPNA) -- CEO of National Petrochemical Company (NPC) Seyyed Reza Norouz-zadeh says Iran's petrochemical exports are expected to cross 14 billion dollars in the current Iranian calendar year which began on March 21.

Forecasts put Iran's petrochemical output at 63 million tons this year, he said, adding the output will be possible with the full exploitation of Marjan, Kaveh Methanol and the first phase of Bushehr petrochemical projects, the official added.

He said said the country is estimated to sell 47 million tons of petrochemical goods on the market generating $24.5 billion of which $14b will be gained from export of 27 million tons of petrochemicals.

"Currently, 60 petrochemical projects are under way across Iran with the nameplate production capacity of 65.4 million tons per year and $42.8 billion of investment," the official said.

Norouz-zadeh further said that financing of the projects determines acceleration of their development. 

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