Petrochemical exports to rise to 65m tons/year

EghtesadOnline: Deputy Minister of Petroleum and Managing Director of National Petrochemical Company Marzieh Shahdaie said on Tuesday that Iran's petrochemical exports will rise up to 65 million tons a year.

News ID: ۷۷۰۵۹۱

24 October 2016

Shahdaie made the remark in her speech to the 2nd Iranian Petroleum and Energy Club Congress & Exhibition (IEPC 2016) in Tehran.

She said that Iran is the second most important country in the region in terms of economy and population, reports IRNA.

She added that huge oil and gas reserves are among advantages for joint venture investment in Iran.

She said that the target for economic growth has been set to eight percent by end of the Sixth Five-Year Economic Development Plan and that Iranian oil industry has special role to play for the economic development.

She highlighted importance of Iranian upstream oil industry, saying that development of the petrochemical industry will depend on growth and development of the oil industry.

Shahdaie said that Iran's current petrochemical production capacity stands at 63 million tons a year and the capacity should rise up to 130 million tons by 2020 and 180 million tons by 2025.

'Our target is more than 65 million tons/year petrochemical exports in 2020.'

She said that petrochemical industry accounted for nine billion dollars value-added in 2015 and that economic diversity, qualitative manpower, huge domestic market, Iran's geopolitical situation and investment incentives including 20-year tax exemption for investment in the special economic zones are the advantages of investment in Iran.

She said that Iranian Ministry of Petroleum and National Petrochemical Company welcomed activity of Iranian and international companies in the petrochemical sector.

She said that petrochemical activities are going on in the Parsian Gulf, Lavan and Qeshm islands, Jask and Chabahar and licenses will be issued for petrochemical activities in other suitable regions.

She said that 50 petrochemical development projects have been defined for more than 30 billion dollars to be implemented.

Once the projects are implemented, more than 40 million tons will be added to the country's petrochemical production capacity, she added.