Iran petchem nominal capacity to reach 60mt: NPC chief

An Iranian deputy petroleum minister says the country’s nominal petrochemical production capacity is close to reaching 60 million tons (mt).

Abdolhossein Bayat said on Wednesday that the objective would be reached after several new petrochemical projects come on-stream before the current government bows out in August.

The official added that the country’s petrochemical output is planned to hit 100 mt by 2015.

“Today, petrochemical industry is an influential element in Iran’s economy and this industry has managed to win a significant share in the [country’s] non-oil exports,” added Bayat, who is also managing director of National Petrochemical Company (NPC).

Bayat stated that Iran is negotiating with some countries for exporting its new petrochemical products.

He gave an upbeat assessment of the future of Iran’s petrochemical industry, saying new petrochemical hubs in the southeastern port city of Chabahar, Lavan Island in the Persian Gulf, and Sarakhsh in northeastern Iran would bring about a major development in Iran’s petrochemical industry.

In February, Bayat had announced Iran’s plans to establish three new petrochemical hubs in the near future, saying the projects will turn Iran into the biggest petrochemicals producer in the Middle East.

Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

Source: Tehran Times

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