Petrochem Output Reaches 76m Tons

Petrochem Output Reaches 76m Tons
Petrochem Output Reaches 76m Tons

Launch of six petrochemical projects since the beginning of the current Persian fiscal year (March) has increased annual production capacity by 10 million tons -- from 66 million tons last year to 76 million tons -- and other programs will add another 35%.
According to a report by the Oil Ministry news agency Shana, 17 petrochemical projects worth $ 11.5 billion were planned for the current year (March 2020-21), to increase production by 25 million tons. Of the total 17 projects, 11 are in different stages of construction and are expected to become operational by the end of the year (March 2021); however, it is likely that some of them go on stream early next year.
The projects are in line with government policy to stop exporting raw material, complete the value chain in the downstream industries, manufacture value-added goods, create jobs, boost non-oil exports and forex earnings and develop the economy.
Over $4 billion has been invested in six projects that came online this year and should annually generate at least $1.4 billion.


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