NPC Ready for Int'l Cooperation

Iran's petrochemical industry is currently at a good global level and ready to expand cooperation with international firms, the head of National Petrochemical Company said. "The valuable industry is at an excellent stage of development, as it can compete with internationally prominent players regarding infrastructures, technology, equipment and labor force," Reza Norouz-Zadeh was also quoted as saying by Shana on Friday. The official added that foreign investments are key to reach the goal of 100 million tons of petrochemical production per annum by 2022. The country's annual petrochemical output currently stands at 55 million tons. Putting Iran's annual revenue from petrochemical exports at $12 billion, Norouz-Zadeh noted that achieving such a goal will also help increase export revenues by up to $50 million. Iranian producers exported 22.41 million tons of petrochemical and polymer products worth over $12 billion in the last fiscal year that ended on March 20, 2018.