Official: Iran Petchem Exports to Leap Next Year

Date: 27 February 2016 - 21:07

News ID: ۲۴۳۴۹

TEHRAN (FNA)- Director of Production Control in Iran’s National Petrochemical Company (NPC) said that petrochemical products are being exported based on the plans expressing the hope that the company will experience a leap in its exports.
"The trend of petrochemical exports is satisfactory and by launching of new petrochemical plants, Iran will diversify its export destinations,” said Ali-Mohammad Bossaq-Zadeh.
"An increasing number of countries in addition to permanent customers of our petrochemical products want to buy these data-x-items from Iran,” he added.
He also expressed hope that by the end of the Sixth Five-Year Development Plan (2016-2021), Iran will turn to a major petrochemical power in the region and world.
"The petrochemical complexes have to increase the quality of their products …to meet the domestic needs and expand their presence in the international markets,” the NPC official said.
Considering the high quality of Iran’s products, Bossaq-Zadehn said, imported petrochemical products can be produced in Iran in near future as planned.
Last December, he told Shana that NPC is ready to cooperate with foreign investors in order to develop the petrochemical industry.
He said Iran’s coastal lines including the Oman Sea basin are of the interest of foreign investors to develop petrochemical projects. "A major European firm is ready to invest 8 billion euros in a petrochemical chain,” he added but did not identify the company.
His comments came after NPC hosted the Iran Petrochemical Forum (IPF 2015) on December 13-14 in Tehran.
Some 97 foreign companies from 25 countries participated in IPF2015 which showed an increase of 120 percent compared to IPF2014.
More than 1,500 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherlands, Russia, and US are took part in the two-day event.
Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, discussed the core issues that the industry is facing with the emphasis given to Iran.
It provided a platform where stakeholders and key players in the global petrochemical sector met to exchange knowledge and address the latest advancements and best practices which are capable of shaping the future of the industry.
Following the historic nuclear agreement, Iran used the event to unveil its post-sanctions projects and plans for further expanding the Iranian petrochemical output capacity from the current 60 million t/y to over 138 million t/y in 2020 and eventually to 180 million t/y by 2025 with an investment of over $80 billion.
NPC seeks to use Iran’s natural gas reserves as raw material to produce propylene and propylene derivatives to provide feed for the expansion of local downstream industries.