Petrochemical production will reach 100 million tons a year, worth $25 billion, by 2022, the oil minister told the 14th Iran Plast International Exhibition on Sunday.
If projects proceed as planned total revenue from this sector would rise to $33 billion with output capacity near 133 million tons a year, Bijan Namdar Zanganeh said, IRNA reported.
“Since the beginning of the current year (last March), 11 petrochemical projects have come online and 15 more will be launched by 2022,” Zanganeh said
He put daily feedstock, including gas, LNG and liquid hydrocarbons, delivered to petrochemical plants at 900,000 barrels of crude oil equivalent. Petrochemical firms produce 77 million tons/year.
On the need to develop the downstream sector, he said expanding the value chain of methanol, propylene, ethylene and benzene is on the agenda.
“Expanding production of propylene and transferring it to the central regions is a priority based on which one million tons of propylene will be produced in Asalouyeh and carried by pipeline to the central regions to help growth in the less developed areas.”
Iran Plast is an annual event that brings together stakeholders from the petrochemical and plastics sector. This year’s expo is being held in four groups of raw materials, machinery, manufactured and semi-manufactured products, and technical/engineering services from February 7-10 in Tehran.
Due to the Covid-19 restrictions only managers, business leaders, scholars and experts are allowed to participate. The first virtual exhibition in the history of Iran Plast is also open for three weeks.
According to the exhibition managers, information of the virtual exhibition and invitations have been sent to more than 22,000 foreign companies.
Sending messages, voice and video conversations and holding online conference calls are among the features of the online platform. Introducing products and technology of domestic companies is said to be the main goal of the online exhibition.
Organizers said 200 domestic companies and 250 foreign businessmen from Iraq, Afghanistan, Azerbaijan, Kenya, Syria, Turkey, Jordan, India, Bosnia and the Iraqi Kurdistan Region are attending.
