Petrochemical exports in Iran rise by 12.8 percent in 5 months yr/yr
(MENAFN) During the first five months of the current Iranian calendar year (March 20-August 21), Iran saw a significant increase in the value of its petrochemical exports, rising by 12.8 percent compared to the same period last year, according to Mohammad Rezvanifar, head of the Islamic Republic of Iran Customs Administration (IRICA). In this period, Iran exported 24.5 million tons of petrochemical products valued at USD9.8 billion, reflecting a 12.5 percent growth in weight year on year. This growth underscores the continued expansion of Iran's petrochemical sector amid a challenging global economic landscape.
Morteza Shahmirzaei, head of Iran’s National Petrochemical Company (NPC), has projected that the country's petrochemical production will reach 80 million tons by the end of the current Iranian calendar year (late March 2025). Shahmirzaei highlighted that a key objective for the Oil Ministry this year is to ensure a consistent supply of feed to petrochemical complexes, which supports the industry's expansion. In the previous Iranian calendar year (ending March 19), Iran's petrochemical exports totaled 30 million tons.
In a related development, Ahmad Mahdavi Abhari, the director general of the Association of Petrochemical Industry Corporation (APIC), reported that Iran’s petrochemical output has surged by 15 million tons over the past two years, reaching 82 million tons. This represents a notable increase from 67 million tons before the late President Raisi’s administration took office in August 2021. Abhari also mentioned that the petrochemical industry has created approximately 143,000 direct jobs, highlighting the sector's significant contribution to employment and economic growth.
Looking ahead, Shahmirzaei announced plans to complete 13 new petrochemical projects by the end of the current Iranian calendar year. These projects are part of a broader strategy to bolster the industry’s output, aligning with the year's focus on "production leap with people's participation." The goal is to operationalize 12 new petrochemical projects and fully utilize existing capacities, further advancing Iran's position in the global petrochemical market.
MENAFN04092024000045015839ID1108634343
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.