TEHRAN (Iran News) – Head of Iran’s National Petrochemical Company (NPC) Behzad Mohammadi says for the first time this year, the revenues of petchem industry will hit $21.5b, adding that by the yearend, some 43m tons of final petrochemical products will be produced and 33m tons of it to be exported.
Speaking in an unveiling ceremony yesterday, Mohammadi said that the national petchem industry plays very proudly and dynamically its role in exports and earning forex for the country, noting that last year, the petchem industry received feedstock equal to $6b which was used in 67 petrochemical complexes.
He went on to say that last year, 25m tons was added to the capacity of the national petrochemical industry, adding that some 34m tons of products have been produced that earned $15b.
Pointing to the COVID-19 pandemic in the country, he said despite the pandemic, all developmental goals in the petrochemical industry have been materialized. Mohammadi also said that today there are 50 active projects in the petchem industry which will come on stream by 2025 and they will increase the production capacity to 135m tons.
Then he explained the fourth step in the petrochemical industry and said the fourth step has been defined in three categories which includes 47 projects and by 2027, Iran’s revenues from petrochemical industry will reach $50b.
Mohammadi reiterated that by 2027, some 2.3m barrels of crude oil per day will be used as the feedstock in the petchem industry and the capacity of this industry will increase to 167m tons.
He added that with implementation of the projects in the fourth step, the collective investment in this industry is estimated to hit $125b by 2017.
Mohammadi stated that access to the feedstock is the most important advantage for developing petrochemical industries and the production capacity in this industry has neared to 100m tons. He said currently industry uses some one million barrel per day of oil as the feed.