TEHRAN (Iran News) – The CEO of the National Petrochemical Company, NPC Co., said that the company has launched an initiative to orchestrate petrochemical projects in the industry.

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According to NPC, he added that 56 petrochemical plants of the country yielded 31 million tons of finished products annually, of which 22.5 million tons were exported and 8.5 million tons were consumed domestically.

He added that the total value of petrochemical products from domestic sales and exports was $17 billion annually.

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He further noted that the aforementioned $40 billion will be provided through domestic and foreign financing scheme.

He went on to say that 27 petrochemical projects will be put into operation within the next two and a half years, four of which will come on stream in the second half of the current year (to start Sept. 21).

Once these 27 petrochemical projects are fully commissioned by 2021, revenues of Iran’s petrochemical industry will hit $25 billion, he added.

With the studies made in this regard, it is predicted that the number of petrochemical complexes will increase from 56 to 83 by 2021, he said, adding, “in this regard, 26 petrochemical projects will be launched from 2021 to 2025, increasing the total production capacity of Iran’s petrochemical industry in 2025 to 133 million tons/year which will bring in $37 billion worth of revenues.”

He put the liquid and gas feedstock that petrochemical units receive at 33 million tons, 25 million tons of which are earmarked directly.

Total feedstock volume of petrochemical units in the country stands at 650,000 barrels of oil, he added.

Elsewhere in his remarks, CEO of National Petrochemical Company (NPC) put the total production capacity of 54 petrochemical units in 2016 at 65.8 million tons, the volume of which hit 57 million tons in 2013.

Deputy Oil Minister for Petrochemical Affairs Mohammadi added, “we are not facing any problem with providing feedstock in new petrochemical projects. For this purpose, we have decided to consider 30 percent discount for gas feedstock of the projects that need for the development of their downstream units.”

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He put the current production capacity of petrochemical industry in the country at 66 million tons.

He went on to say that value of petrochemical products (in rials and currency) will hit from current $17 billion to $24 billion in 2021, adding, “with the operation of other petrochemical projects by the end of 2025, value of petrochemical products will hit $37 billion.”

The Deputy Minister of Oil for Petrochemical Affairs Mohammadi put the daily production capacity of methanol in Arta Energy Petrochemical Company at 400 tons, adding, “construction operation of this petrochemical project is underway with 65 physical progress, so that this giant petrochemical project will be inaugurated in the next year (to start March 21, 2020).”

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He said 13 petrochemical companies had purchased the catalysts and would use them in their operations.

As an example, the official said that consuming Ziegler–Natta catalyst used for the production of linear light polyethylene would save companies some $30 million annually.

Moreover, commercialization of the catalyst for the production of high-density polyethylene pipes would save petrochemical companies $15 million annually.

PRTC cooperates with a wide range of petrochemical companies in Iran as licensor and research consultant, Pajouhan said.

Petrochemical is Iran’s most important industry after oil and gas. The National Petrochemical Company hopes to lift output capacity to 120 million tons per annum by 2022.

In the March 2018-19 fiscal, Iranian companies exported $14.1 billion worth of petrochemicals. Official data has it that petrochemicals account for 32% of Iran’s non-oil exports.

The petrochemical industry has played a key role in domestic economic growth as it creates value-added and reduces the sale of oil and gas on which the economy has been dependent for decades.

With abundant hydrocarbon reserves and new private sector investments, Iran is working hard to maintain its global status in the key sector and broaden its scope.

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According to Mohammadi, developing downstream projects in the hub was top on NPC’s agenda, Shana reported. He also added that plans were being considered at NPC and final decisions would be made about feedstock allocation to the future plants in the hub soon.

The official further said that an output of 5 to 6 million tons per year of petrochemical items was envisaged in designing the new hub which will be developed in a matter of 5 to 15 years.

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According to Shana, Behzad Mohammadi, who is also the CEO of the National Petrochemical Company (NPC), said implementation of the projects would create a new movement in the southern province of Hormuzgan.

He said of 55 petrochemical plants operating across the country, 30 were operating in Assaluyeh, Kangan and Dayyer, adding 17 projects were also under construction and dozens of others were being pitched for financing.

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Bayat referred to the imposition of new US sanctions on Iran’s petrochemical industry and added, “the nature of petrochemical industry is in such a way that it cannot be sanctioned under any circumstances. Not here in Iran not in any other country.”

Private sector is responsible for producing and selling petrochemical products in the country, he said, adding, “it is predicted that country’s petrochemical products will be exported easily due to the high capabilities and potentials of private sector.”

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 Statistics of the National Petrochemical Company (NPC) showed that more than 17 million tons of petrochemicals, valued at over $9.739 billion, were exported from the country in 10 months of the current Iranian year (March 21 – Jan. 21).

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 Statistics of the National Petrochemical Company (NPC) showed that more than 17 million tons of petrochemicals, valued at over $9.739 billion, were exported from the country in 10 months of the current Iranian year (March 21 – Jan. 21).

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