Iran Eyes 100 mt/y Petchem Output by 2022

(Saturday, November 28, 2020) 15:14

TEHRAN (NIPNA) – Iranian Minister of Petroleum Bijan Zangeneh said the country would be producing 100 million tons of petrochemicals annually once the plans under way in the industry come online by 2022.

Addressing a virtual ceremony to launch major oil and energy projects on Thursday, the official said that the country’s petrochemical revenues would reach 25 billion dollars per year by 2022, adding plans were further underway to bring the amount to $37b by 2026 while production capacity will stand at around 133 million tons per year.

He added, "As we had promised earlier, 19 petrochemical projects in the second leap with a value of $11.4 billion with 25 million tons of production capacity will come on stream this year.”

Since the start of the current calendar year which began on March 21, five petrochemical projects with an investment of $3 billion have been inaugurated by Iranian President Hassan Rouhani. Lordegan Petrochemical Project is the 6th of these projects to come online this year, he added.

The official said the facility has been constructed by the Persian Gulf Petrochemical Industries Company (PGPIC) with a daily production capacity of 3,000 tons of urea and ammonia and an annual production capacity of over one million tons of products.

Iran Urea Output

Elsewhere in his address, the Minister of Petroleum stated that the current production capacity of urea is 6.5 million tons in Iran, and said: “The urea production capacity of the country will increase by another 3 million tons annually by once Lordegan, Masjed Soleyman and Hengam projects fully come on stream. Domestic consumption of urea is 2 million tons currently, and the surplus can be exported.”

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