Iran petchem revenues to reach $25b in 2021

TEHRAN, Dec. 24 (MNA) – Iranian oil minister announced on Thurs. that the country's petrochemical income is expected to reach $25 billion at the end of the next Iranian calendar year (March 20, 2022).

According to Bijan Namdar Zanganeh, Iran could earn $11 billion of revenues in the first boom of its petrochemical industry seven years ago, and in the second jump, the income is expected to reach $25 billion at the end of the next Iranian calendar year.

Addressing an online opening ceremony for petrochemical projects at the presence of President Hassan Rouhani, Bijan Zanganeh added that the Ministry of Oil has faithfully attempted to continue petrochemical development projects amid illegal US embargo on Iran. 

Pursuing the policy of the resistance economy, Iran succeeded in achieving great progress in the petrochemical industry, the minister noted.

Iran had earned $2 billion from the petrochemical industry in 1997 and the income reached $11 billion in 2013, Zanganeh said.

The revenue of petrochemical projects would increase to $25 billion by March 20, 2022, he noted, adding that $37 billion of income is on the horizon by 2025. 

With the completion of 19 petrochemical projects set for the end of the current Iranian year (March 20, 2021), the plants are expected to produce 25 million tons of petrochemical products, the minister stated.

The ministry has put into operation seven projects so far, and three projects, including  Ilam Petrochemical Plant, Hegmataneh Petrochemical Plant, and some small projects in Orumiyeh, are slated to be inaugurated today, Zanganeh expressed.

HJ/5103731

News Code 167603

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