Iran’s petrochemical production to hit 80M by March next year
(MENAFN) Morteza Shahmirzaei, the head of Iran’s National Petrochemical Company (NPC), announced that the country's petrochemical production is projected to reach 80 million tons by the end of the current Iranian calendar year, which concludes in late March 2025. This figure reflects Iran's ongoing efforts to enhance its petrochemical sector, with a primary focus on ensuring a stable supply of feedstock to its petrochemical complexes. Shahmirzaei highlighted that Iran's petrochemical exports for the previous year totaled 30 million tons.
In May, Ahmad Mahdavi Abhari, director general of the Association of Petrochemical Industry Corporation (APIC), reported a significant increase in Iran’s petrochemical output. Over the past two years, production has risen by 15 million tons, bringing the current output to 82 million tons. This marks a notable rise from the 67 million tons produced before late President Ebrahim Raisi assumed office in August 2021. Abhari also noted that the expansion of the petrochemical industry has created approximately 143,000 direct jobs, demonstrating the sector's role in economic development.
The growth in Iran’s petrochemical industry has been substantial, with the growth rate rising to 40.6 percent from 27.5 percent in the previous five-year development plan. To further boost production, Shahmirzaei outlined plans to complete 13 new petrochemical projects by the end of the current Iranian calendar year. This initiative is part of the broader strategy to enhance production capabilities and contribute to economic development, with an emphasis on maximizing existing resources. The completion of these projects is expected to significantly impact Iran's production capacity and economic growth.
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