Iran is planning to increase its petrochemical production by around 13 percent up to 2017, an Iranian official said Wednesday, according to the country's energy information network Shana.
This will bring the total output of petrochemical products to 53 million tons a year at the beginning of the Iranian calendar year, by March 20, 2017, according to Ali Mohammad Bossagh Zadeh, the production control manager at Iran's National Petrochemical Company.
Currently, the country's petrochemical production level stands at 47 million tons per year, he noted.
"Next year's rise will be possible by boosting efficiency of the country's plants as well as launching new projects to be inaugurated before March 2017," Zadeh said, according to Shana.
Planning on increasing its oil production and exports after sanctions are lifted sometime next year, Iran wants to focus also on exports of petrochemical products to diversify its energy-generated revenues that are largely dependent on oil sales at the moment.
For this purpose, the country will hold its 12th annual International Petrochemical Forum in Tehran on Dec. 13-14, with the aim of boosting its petrochemical industry through attracting investment. The forum is expected to be attended by some 300 Iranian companies and around 100 foreign petrochemical firms.
Zadeh also indicated that his country plans to double its petrochemical output by 2025, and added "Iran has dozens of petrochemical projects up for grabs by foreign financiers."
By Ovunc Kutlu