The CEO of Iran’s National Petrochemical Company (NPC) Behzad Mohammadi said that the country’s petrochemical sector generated more than $14.5 billion in revenue in the last Iranian calendar year which ended in March 2020. The revenue consisted of $9.5 billion form exports and $5 billion from domestic petrochemicals purchases.
He added Iran’s petrochemical production reached 31 million tons in the last calendar year, of which 23 million tons were for export markets. Mohammadi noted that average petrochemicals prices in the previous calendar year were 30% lower than in the last calendar year. He said that for the first 50 days of the current calendar year, Iran’s petrochemical output grew 6% year-on-year.
According to the official, Iran’s petrochemical industry plans to start up 16 projects worth some $12 billion investment in the ongoing calendar year. These projects will increase Iran’s annual petrochemical production by 31-37 million tons. Iran’s annual petrochemical production capacity currently stands at 66 million tons. However, he said that the coronavirus pandemic might delay four of the projects.
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Published on July 7, 2020 4:47 PM (GMT+8)Last Updated on July 7, 2020 4:47 PM (GMT+8)
