SP Phase 2 Petrochem Exports to Hit $13b

SP Phase 2 Petrochem Exports to Hit $13bSP Phase 2 Petrochem Exports to Hit $13b

Iran plans to earn over $13 billion from export of petrochemical products of South Pars Phase 2 in Assalouyeh in the coming years, deputy director of the National Petrochemical Company said Tuesday, ILNA reported.

Mohammad Hassan Payvandi stated that around 33 million tons of petrochemicals from the phase will be sold at $400 per ton.

"Our estimates show that more than 40 million tons will be added to the country's petrochemical output once all petrochemical development projects in Assalouyeh are completed," the NPC official projected.

Oil Minister Bijan Namdar Zangeneh recently called for increasing the value of petrochemical exports from $20 billion to $40 billion. "To this end, Assalouyeh-based petrochemical plants will have a significant role," Peyvandi stated.

"New development plans are aimed at cutting the amount of raw material exports, creating jobs in the region, and seeking cooperation from the private sector," he added, saying that private companies are currently building extension generators and fractionating columns in Assalouyeh.

Iran's petrochemical production capacity is expected to surpass 180 million tons in 2025.