TEHRAN: National Iranian Petrochemical Company Managing Director Abbas Sheri Moqaddam said that Iran will increase its petrochemical production by 1.3 million tons by the end of the current Iranian year (March 20, 2015).
Iran produced over 35 million tons of petrochemical products since the beginning of current Iranian calendar year (March 21, 2014), he noted.
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NIPC Managing Director Abbas She’ri-Moqaddam added that 14 petrochemical projects will come on stream in the next Iranian calendar year (March 2015-March 2016) which will increase the country’s petrochemical output by 8 million tons, the Shana news agency reported on Tuesday.
In June 2014, She’ri-Moqaddam said Iran plans to boost annual petrochemical production capacity to 180 million tons from around 60 million tons currently.
He said once semi-finished petrochemical projects are completed and a number of planned petrochemical units come on stream, the country’s petrochemical output will be increased to 180 million tons per year.
However, he did not set a specific date by which the goal would be realized.
“The finance required to implement the projects is planned to be secured through attracting foreign investment,” he added.
The official said that by implementing four petrochemical plans, worth $41 billion, Iran’s annual petrochemical output will witness a two-million-ton growth in the current Iranian calendar year, which will end on March 20, 2015.
