Iran’s petrochemical production capacity rises 13.2%

Iran’s nominal petrochemical production capacity increased by about 13.2 percent in the previous Iranian calendar year (ended March 20, 2013).

According to SHANA news agency, the country’s petrochemical output capacity rose by 7 million tons (mt) during the period to reach about 60 mt following the launch of several petrochemical projects.

The report added that Iran produced more that 37.3 mt of petrochemical products during the first eleven months of the last Iranian calendar year, out of which 14.5 mt, valued at USD 10.2 billion, were exported.

Iran exported petrochemical products to more than 60 countries. The Far East, Central Asia, Southeast Asia and Africa were the main destinations of the Iranian products.

Earlier in March, Iranian Deputy Oil Minister Abdolhossein Bayat said the country’s petrochemical output is planned to hit 100 mt by 2015.

Bayat, who is also managing director of National Petrochemical Company (NPC), said Iran is in negotiations with some countries for exporting its new petrochemical products.

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