Iran to Allocate 6 Billion Dollars for New Petchem Projects
Hassan Abbaszadeh, the CEO of the National Petrochemical Company, said that construction of a number of 15 petrochemical projects, worth $6 billion, will start in the current Iranian year of 1404 (ending on March 21, 2026).
Abbaszadeh had announced earlier this month that the country will export almost 35 million tons of petrochemical products till March 2026.
In a meeting with petrochemical holding company executives and representatives of the Petrochemical Employers Association, Abbaszadeh said that the nominal production capacity of the petrochemical industry is expected to reach 105 million tons, with exports of approximately 34.8 million tons worth about $13.6 billion.
Abbaszadeh went on to say that Iran’s petrochemical industry is on a growth trajectory, with production capacity reaching about 97 million tons in 1403, adding, “Last year, 75.2 million tons of petrochemical products were produced and supplied to domestic and international markets. Exports totaled 29.2 million tons ($13 billion), while domestic sales reached 13.1 million tons ($11 billion).”
He added that 8.5 million tons of new petrochemical projects are set to come online this year, boosting nominal capacity to 105 million tons and actual production to 83.5 million tons. For 1404, exports are projected at 34.8 million tons ($13.6 billion), with domestic sales estimated at 16.1 million tons (over $10 billion).
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