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Iran Petrochem Output Hit 18m Tons

Iran Petrochem Output Hit 18m TonsIran Petrochem Output Hit 18m Tons

Iran produced some 18 million tons of petrochemicals and polymers in the first four months of the current fiscal year (March 21-July 22), meeting nearly one-third of its production target for the year.

"The output of petrochemical companies reached 18 million tons in the four-month period … around 60% of supplies are exported and the rest consumed in domestic market," said Ali Mohammad Bosaqzadeh, deputy for production control at the National Petrochemical Company, NIPNA reported on Sunday.

The country is forecast to produce 56 million tons of petrochemicals by March 2018, almost 10% higher than last year's level that exceeded the 50-million-ton mark. 

Nominal production capacity is set to reach 72 million tons.

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