Petchem Output To Double By 2025

Tehran, Oct 19, IRNA -- Iran’s petrochemical production capacity reached 60 million tons in the year ending March 2014 and will double by 2025, the National Petrochemical Company’s director for production control said. Ali Mohammad Bosaq-Zadeh added that Iran has numerous advantages for investors in terms of supplying cheap and ample feedstock compared to other countries. “Over the past 25 years, Iran's value of petrochemical products has risen by 36-fold,” he said, adding that a major part of the success is due to Iranian scientific developments in designing, engineering and manufacture of equipments. “In late 2013, Iran’s petrochemical industries exported 12.8 million tons of products valued at $9.9 billion to world markets and 14.5 million tons were supplied to domestic markets,” he said. Bosaq-Zadeh noted that a total of 45 productive units with a capacity of 60 million tons were responsible for 36 and 45 percent of Iran's non-oil exports and industrial exports respectively, adding that Iran exported petrochemical products worth $12 billion in 2012. Iran comprises 24 and 4.2 percent of petrochemicals in the Middle East and the world respectively, based on the global statistics. "It is predicted that Iran's petrochemical output will reach 100 million tons by 2016 and the value of its exports exceed $20 billion," he said./end