NPC estimates Iran’s yearly petchem shipment to reach USD18B by next March
Date
8/28/2022 3:20:40 AM
(MENAFN) Iran’s yearly shipment of petrochemicals is estimated to hit USD18 billion in the ongoing Iranian calendar year (ends on March 20, 2023), the chief director of National Petrochemical Company (NPC) announced.
Morteza Shahmirzaei stated that right now, the petrochemical area has the biggest added value in the oil industry chain.
The official also put the nation’s yearly petrochemical output volume at 90 million tons.
He stated that “Some products were not considered in the previous periods and we were faced with their import at the cost of five billion dollars” adding, “The products of the propylene chain are of special importance and include 70 percent of the total petrochemical imports. To reduce the dependency, the petrochemical company has focused on the development of value chain projects.”
He went on to mention that provision of propylene is vital for the supply of feed for this chain, and presently the output volume of propylene is one million tons a year, and the nation’s need is higher than this amount.
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