Petrochem Co. Releases Data

Iranian petrochemical plants produced 42 million tons of products in the first 10 months of the current fiscal year that ends in March, National Petrochemical Company said in a report. During the period to Jan. 19, 1.6 million tons of which were exported, Shana reported. NPC said that petrochemical complexes in Mahshahr, the major petrochemical hub in the southern Khuzestan Province, produced 15.1 million tons in that period, accounting for more than one-third of the total. With a nominal petrochemical production capacity of around 65 million tons per year, output is expected to exceed 50 million tons in the present fiscal. Tehran hopes to boost capacity to 130 million tons a year by 2020. Reportedly, Iran wants $72 billion in foreign investment for 80 petrochemical projects that should be developed under the sixth economic development plan (2017-22) that is still being reviewed in the Majlis.