Iran starts development of three petrochemical complexes

Baku, Azerbaijan, Apr. 6 By Fatih Karimov - Trend: Iran has started the development of three petrochemical complexes, Iran's Shana news agency quoted Majid Mahmoudian, the managing director of Petrochemical Industries Development Management Company, as saying on April 4. Development operations of Hengam, Bouali, and Veniran complexes have begun, he added. Hengam and Veniran petrochemical complexes are located in Pars Special Economic and Energy Zone, south of Iran. Bouali Petrochemical Complex is located in Mahshahr Special Petrochemical Economic zone, south of the country. Iran will be able to export petrochemical products to Europe once the international sanctions are lifted, IRNA quoted National Iranian Petrochemical Company's production manager Ali Mohammad Bassaqzadeh as saying on March 5. The products will be exported not only to Asian and African countries, but also to European countries, he added. Bassaqzadeh said that the country's petrochemical output will hit 40 million tons by the end of the current Iranian calendar year (March 20. Iran's petrochemical exports surpassed $9.19 billion during the first ten months of the current solar year (started on March 21, 2013), the country's customs administration said earlier. The country's petrochemical exports stood at $8.116 billion during the first nine months of the current solar year, which indicates a 2.3 percent decrease compared to the same period of the preceding year. The Western countries suspended certain sanctions against Iran as the Geneva nuclear deal entered into force on Jan. 20. The prohibition on the import, purchase or transport of Iranian petrochemical products and related services was suspended as a result of the nuclear deal implementation. The exports of Iran's gas condensates stood at $ 8.520 billion for the first ten months of the current Iranian calendar year, according to the country's custom administration's report. Follow us on Twitter @TRENDNewsAgency