Iran’s petchem output up by 20%

TEHRAN, Dec. 06 (MNA) – Deputy oil minister has reported 20-percent rise in Iran’s production capacity for petrochemicals in the current Iranian calendar year (began March 20). On the latest status of production and exports of petrochemical products, Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei said “a satisfactory trend exists in the country’s petrochemical production and the output capacity has experienced a 20% uplift thanks to operation of a number of new projects.” The official said resumption of cooperation by foreign licensors in several petrochemical complexes has also contributed to the boost in production; “developmental plans in the country’s petrochemical industry are now deploying products to domestic and international markets,” she asserted. NPC managing director went on to underline that new investments could realize developmental plans in the petrochemical industry stating “more plans are being defied and Iran’s National Petrochemical Company (NPC) will issue new permits only through precise and comprehensive investigation.” “Oil Ministry will also supply feed in case investors meet necessary obligation and also if development projects enjoy economic justifiability,” she emphasized. The Iranian deputy oil minister also noted that new proposals have been submitted for investment and construction of new petrochemical complexes in some free trade zones permits of which will be issued if eligibility of applicants is approved.