Iran to Launch $11.5bn Petrochemical Projects by March 2021
TEHRAN (Shana) – The Deputy Minister of Petroleum for Petrochemical Affairs Behzad Mohammadi has said a total of $11.5 billion worth projects would be launched in Iran by the end of the current Iranian calendar year to March 20, 2021.
Mohammadi said the projects would add 25 million tons to the country’s annual production capacity and bring it to 90 million tons per year.
He described the current calendar year as the golden year for the petrochemical industry, saying 17 projects were planned to come online in the year with 11.5 billion dollars of investment.
The first of these projects was Miandoab Petrochemical Project which came on stream last week.
In early June, managing director of Iranian Investment Petrochemical Group Co (IIPGC), Rasoul Afsharzadeh said that implementation of four projects worth $103 million will add 107,000 tons to the output capacity of the petrochemical sector.
Afsharzadeh announced on June 7 that financial resources have been appropriated for the projects, adding that the projects will be implemented in less-developed regions to create job opportunities.
Afsharzadeh added that the four projects will become operational in Sonqor of Kermanshah province, Mahshahr of Khuzestan province, Lordegan of Chaharmahal-Bakhtiari province and Orumiyeh of west Azarbaijan province.
The projects will not only develop complementary industries, they will also prevent imports of chemical and petrochemical products, he concluded.
According to a report released in late May on Iran’s petrochemical activities, 55 petrochemical companies active in Iran produced 31 million tons of products in the past Iranian year ended on March 20.
Mohammadi said the projects would add 25 million tons to the country’s annual production capacity and bring it to 90 million tons per year.
He described the current calendar year as the golden year for the petrochemical industry, saying 17 projects were planned to come online in the year with 11.5 billion dollars of investment.
The first of these projects was Miandoab Petrochemical Project which came on stream last week.
In early June, managing director of Iranian Investment Petrochemical Group Co (IIPGC), Rasoul Afsharzadeh said that implementation of four projects worth $103 million will add 107,000 tons to the output capacity of the petrochemical sector.
Afsharzadeh announced on June 7 that financial resources have been appropriated for the projects, adding that the projects will be implemented in less-developed regions to create job opportunities.
Afsharzadeh added that the four projects will become operational in Sonqor of Kermanshah province, Mahshahr of Khuzestan province, Lordegan of Chaharmahal-Bakhtiari province and Orumiyeh of west Azarbaijan province.
The projects will not only develop complementary industries, they will also prevent imports of chemical and petrochemical products, he concluded.
According to a report released in late May on Iran’s petrochemical activities, 55 petrochemical companies active in Iran produced 31 million tons of products in the past Iranian year ended on March 20.