Petrochemical exports surpass $6 bn in H1

TEHRAN, Oct. 16 (MNA) – Iran exported $6.391 billion worth of petrochemical products in the first six months of the current Iranian year (March 21-Sept. 22), up 14.74% in comparison with the similar period of last year.

The country’s 56 petrochemical complexes produced some 27.5 million tons of petrochemicals in the past six months, of which 10.995 tons were shipped to foreign markets.

According to Oil Ministry’s news portal, Shana, nominal annual output capacity of the companies is slated to reach 72 million tons by the end of the fiscal year (March 20, 2019). The actual production is envisaged to amount to about 62 million tons by the yearend.

Petrochemicals accounted for 34.7% of Iran’s non-oil exports in the last Iranian year. The industry has achieved continuous growth in the past five years, such that petrochemical complexes have increased from 43 plants to 56.

According to Ali Mohammad Bossaghzadeh, the director in charge of projects at the National Petrochemical Company (NPC), the government is planning to launch 18 GTX projects to convert natural gas to propylene in Chabahar and Qeshm in a bid to increase the share of petrochemical products in the country’s value-added chain.

He added that some 30 projects in the petrochemical sector are currently under construction throughout the country with the aim of completing the petrochemical value-chain.

MR/SHANA285168

News Code 138739

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