Iran Producing 246mln tons of Petrochemicals Every Day

Iran plans to invest $20bln in the petrochemical sector, a senior Iranian oil official announced, and added that the country produces 246mln tons of different types of petrochemicals every day.

Iran is one of the world’s major petrochemical producers, Iranian Deputy Oil Minister Mohsen Khojasteh Mehr said, putting the country’s petrochemical production at 246 million tons per day.

He also said that the country plans to build a new petrochemical hub in the Southeastern port city of Chabahar through $20 billion of investment.

“Only those companies will be given permit for establishing petrochemical plants which are able to complete their value chain,” he said on Tuesday.

Khojasteh Mehr said the plan will be implemented in three phases with a total investment of USD 20 billion.

The annual output of Iran’s petrochemical plants has reached 57 million tons, Head of the National Petrochemical Company (NPC) Abdolhossein Bayat said in January.

Also late in February, Iranian First Vice-President Mohammad Reza Rahimi lauded the country’s petrochemical engineers and experts, and said exports of petrochemical products will soon exceed crude oil exports in value.