The National Petrochemical Company's revenues are estimated to exceed $12 billion by the end of the current fiscal in March, Behzad Mohammadi, the new head of NPC said Saturday.
"NPC exported petrochemicals and polymers worth over $8 billion in the first seven months of the current fiscal (March 21-Oct. 22). Revenue is projected to reach $12 billion by March," Mohammadi, who recently replaced Reza Norouz-Zadeh, was quoted as saying by NIPNA, the company’s news service.
Giving a breakdown, Mohammadi said 16 complexes in Pars Special Economic Energy Zone exported $4.1 billion worth of products in the period. PSEEZ, located in southeast of Bushehr Province, is home to major oil, gas and petrochemical companies.
"Twenty-one complexes in Mahshahr exported 3.6 million tons of commodities worth $2.2 billion," he said.
Other petrochemical companies in Lorestan, Khorasan, Kermanshah and Fars provinces sold 2.9 million tons in seven months worth $1.7 billion.
According to the official, petrochemical output in the seven months was 36.7 million tons and is forecast to reach 57 million tons before the Iranian year is out.
The country earned $9.55 billion from petrochemical exports last year mainly to Asia, Europe and South America.
Referring to the Pardis Petrochemical Company, as the operator of a large ammonia and urea plant in Asalouyeh, he said the complex is exporting to newly emerging markets in Latin America, the Caribbean Sea and Asia.
"PPC exported 1.7 million tons, 520,000 tons, 300,000 tons to India, Europe and China respectively during the past 12 months," he said, asserting that Mexico and Nepal are among the company's new customers.
The company's nominal production capacity has increased to 2 million tons of ammonia and 3.7 million tons of urea annually after the completion of its third development phase that cost $593 million.
Petrochemical ventures including Marjan Petrochemical Company—aka 7th Methanol Project—in Phase 2 of South Pars in Asalouyeh, Phase 3 of Pardis Petrochemical Company, with a capacity of 1.7 million tons of urea and ammonium, as well as a power plant in Damavand Petrochemical were inaugurated last month in the city of Asalouyeh in southern Bushehr Province.
Petrochemical is Iran's second largest industry after oil and gas. NPC hopes to lift nominal output capacity to 120 million tons per annum by 2022, the end of the Sixth Five-Year Economic Development Plan.
Iran holds some of the world's largest crude oil and natural gas reserves. In comparison its petrochemical sector has a long way to go.
