Iran Eyes 100mt Petchem Output by 2021

(Wednesday, September 11, 2019) 16:57

TEHRAN (NIPNA) – The CEO of the National Petrochemical Company (NPC) said that the country’s petrochemical production capacity would reach 100 million tons per year by 2021.

Behzam Mohammadi told IRIB that Iran’s petrochemical production capacity would increase by 50% by 2021 from currently 66 mt/y.

He said the boost would be marked as the second leap in the petrochemical production capacity of the country.

Currently, 56 petrochemical plants are active in Iran which supply 31 mt/y of final items and 350 various petrochemical products, he said.

Mohammadi said that over 70 percent of the industry’s output was currently being exported, adding that of the 31 mt/y final products’ output, 22.5 million tons was being exported annually generating $17 billion, and the rest being consumed domestically.

He further said that the industry had created 108,000 direct jobs in the country, making it a significant economic sector in Iran.

The official further said that by 2021, Iran’s petrochemical revenues would reach $25 billion per year as 27 more projects would become operational by then.

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National Petrochemical Company