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Iran to launch 10 Petchem projects this year amid record sales

Iran to launch 10 Petchem projects this year amid record sales
(Monday, May 8, 2023) 13:26

TEHRAN (NIPNA) -- Iran plans to launch 10 petrochemical projects this year as part of its efforts to boost its production and export capacity in the sector, Deputy Petroleum Minister and CEO of National Petrochemical Company Morteza Shahmirzaei said on Monday.

Speaking at a press conference in Tehran, Shahmirzaei said that Iran's petrochemical industry currently converts the equivalent of less than one million barrels of crude oil per day from hydrocarbon sources into valuable petrochemical materials, with a nominal production capacity of 92 million tons per year in 67 production complexes.

He said that Iran produces 16 types of polymer materials in 333 different grades with a capacity of 8.8 million tons, equivalent to about 10% of the country's petrochemical industry capacity.

The CEO added that Iran also produces 85 types of non-polymer materials, equivalent to 82 million tons and 90% of the share of petrochemical capacity, including chemical base materials, aromatic materials, hydrocarbon materials and chemical fertilizers.

Shahmirzaei announced that Iran's petrochemical production increased by 6% from 65.3 million tons in the Iranian calendar year 1399 (March 2020-March 2021) to 69.3 million tons in the year 1400 (March 2021-March 2022). He said that the total sale of petrochemical products in the country also increased by about 11% from 35.7 million tons in 1399 to 39.6 million tons in 1400.

He said that out of the total sales, 27.4 million tons were exported and 12.2 million tons were allocated to domestic sales.

Shahmirzaei said that 10 petrochemical projects will be ready for operation this year, including Arta Energy Ardabil, Aryan Methanol (Asalouyeh), Olefin of Gachsaran, NGL 3200 (Persian Gulf Hoveizeh Gas Refinery), Hemgan Petrochemical Phase 1 (ammonia unit), Maroon Petrochemical Phase 2 (Ethylene Oxide), Nakhl Asmari Petrochemical Phase 2, Damavand Petrochemical Air Unit 4, Rayan Polymer Dynamic Air Unit and Petronad Asia Phase 1 (with the aim of producing MEG and Glycerine).

He said that these projects will add about seven million tons to Iran's petrochemical capacity and create more than 6,000 direct and indirect jobs.

Shahmirzaei also said that Iran has plans to implement 68 petrochemical projects with a capacity of 51 million tons and an investment of $35 billion as part of its seventh development program.

He added that with the implementation of the eighth development plan, another 37 projects with an investment of $35 billion will be built in the country, which will add another 48.5 million tons to Iran's petrochemical capacity.

He said that by the end of the eighth development plan, Iran's petrochemical capacity will reach about 200 million tons per year.

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