Petrochem Output Could Rise to 180m Tons

Petrochem Output Could Rise to 180m Tons

Annual petrochemical production capacity could hit 180 million tons within the next 10 years, 3 times more than the current capacity, deputy managing director of the National Petrochemical Company (NPC) said Saturday.
Mohammad Hassan Peyvandi noted that NPC has recently devised a roadmap, which includes steps that should be taken by petrochemical industry officials to improve the process and also the quality of petrochemical production in the country, Shana reported. He noted that the new plan also deals with semi-finished petrochemical projects left from 4th and 5th 5-year economic development plans. "These projects need 35 billion dollars in investment to be completed," the NPC official stated.
“In case the required finances are provided, petrochemical production capacity will reach 180 million tons by 2015, which is the final year of the 20-Year Vision Plan," Peyvandi said, adding that once this objective is realized, Iran will acquire the top spot in petrochemical industry in the Middle East.
The NPC flowchart, according to Peyvandi, also makes mention of boosting propylene production and completion of petrochemical value chain as two other main objectives that should be taken into consideration for development of domestic petrochemical industry.
He added that petrochemical production rose 36-fold in the past 25 years mainly by reliance on domestic resources and despite restrictions caused by international sanctions. According to official data, Iran’s petrochemical exports in 2013 hit 12.8 million tons and 9.9 billion dollars in terms of weight and value, respectively, while domestic consumption stood at 14.5 million tons.


Short URL : http://goo.gl/nRr3te

You can also read ...

Canada Ships Biggest Oil Consignment to China
A tanker loaded with around 514,000 barrels of oil has set...
Japan to Toe US Line, Stop Iranian Oil Imports
Japanese oil distributors are preparing to stop importing...
Saudis Reap Benefit From US-China Trade War
Saudi Aramco is winning thanks to US President Donald Trump’s...
Oil Prices Set to Drop Over Excess Supply
Crude prices rose on Friday, but were still set for a weekly...
7 Power Projects Take Off
Energy Minister Reza Ardakanian on Thursday inaugurated seven...
South Pars has 24 standard phases, most of which are fully operational.
The giant South Pars Gas Field in the Persian Gulf is slated...
Oman to Finalize Gas Supply Contract by August
Tehran and Muscat are planning to sign a final agreement on...