EghtesadOnline: Director of the Planning and Development Department in National Petrochemical Company (NPC) Farnaz Alawi said on Monday that Iran's petrochemical exports will rise up to 20 million tons this year.
Alawi said elimination of sanctions have facilitated development of the petrochemical industry and the exports to the extent that statistics show growth in the production and exports in recent months, IRNA reported.
Though due to oil price fall, value of petrochemical exports has been dropped, the volume of exports has increased and new markets have been opened for the petrochemical exports.
Alawi said the installed petrochemical capacity will reach 64 million tons by end of this year.
She said last year, the petrochemical output stood at about 46.5 million tons and in the first seven months (March 20-October 20) of this year (started on March 20) , the production was 29 million tons and it is to stand between 50 to 51 million tons by end of this year (to end on March 20).
Alawi put the value of petrochemical exports at 9.6 billion dollars in 1394 (2015-16) and said by end of Iranian month of Mehr (September 21-October 20), 4.8 billion dollars exports were registered and it is expected to reach about nine billion dollars by end of this year.
Iran's petrochemical production capacity will reach 130 million tons/year by next nine years.
To hit the target, 50 billion to 70 billion dollars need to be invested in the petrochemical industry.