Iran’s petchem production capacity to increase by 4mn tons

TEHRAN, Aug. 04 (MNA) – With the implementation of three petrochemical projects, Iran’s petrochemical production capacity will increase by 4 million tons in spite of tough US sanctions imposed against the country.

These three petrochemical projects would be put into operation in the country on Thu. Aug. 6. in the presence of Iranian President Hassan Rouhani, said Chief Executive of National Petrochemical Company (NPC) Behzad Mohammadi on Tue in an interview with IRNA.

He pointed to the inauguration of three giant petrochemical projects and added, “these petrochemical projects include Kaveh Petrochemical Company, Middle East Kimia Pars Petrochemical Company and catalyst project of Lorestan Petrochemical Company which would increase petrochemical production capacity up to four million tons.”

The aforementioned petrochemical projects, costing $1.57 billion at large, would add more than four million tons to the production capacity of petrochemical in the country, Mohammadi reiterated.

A number of 27 petrochemical projects have been defined at the second stage, total of which would become operational by 2021, he said, adding, “of total 27 projects, 17 of which would be put into operation before the termination of the current year (to end March 20, 2021), based on which, petrochemical production capacity would increase from current 66 million tons to 90 million tons at large.”

Implementation of these 27 petrochemical projects by 2021 with the production capacity of 100 million tons would yield $25 billion worth of foreign currency for the country, NPC chief stressed.

MA/IRN83895220

News Code 161842

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