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.”