0304 GMT October 22, 2021
Ali-Mohammad Bassaq-Zadeh added the figure is expected to reach 43 million tons by March 21, 2015, Shana reported.
During March 21, 2014-January 20, 2015, he said, Iran sold 13 million tons of petrochemicals in the domestic and foreign markets valued at $9.06 million and $9 billion respectively.
Bassaq-Zadeh said that since mid-March 2014, domestic petrochemical companies have used 70 percent of their nominal capacities and this figure will rise to about 80 percent in the year to start mid-March 2015.
He listed the petrochemical projects currently underway as construction of the nitrogen unit of Fajr-e Jam No. 2 complex, desulfurization unit of Nouri Petrochemical Company, Takht-e Jamshid petrochemical Company and the utility unit of Damavand Petrochemical Company.
The NPC director further said two production units have gone on stream at Lorestan Petrochemical complex while the second phase of the Kavian Petrochemical Company No. 2 development project is ready to become operational.
He put the country's gas refining and transfer capacity at 600 mcm per day and said this will soon amount to 1 billion cubic meters per day.
Iran's petrochemical industry has a number of advantages which are alluring to foreign investors including the availability of feedstock, a growing domestic market with a high demand for petrochemicals, skilled workforce, favorable transportation and communication infrastructures, unique geographical location, a large number of free trade zones and political stability.
The country also offers incentives and facilities such as tax exemption to foreign investors.
Also, Adel Salim-Nejad, the managing director of the Persian Gulf Petrochemical Industry Company, said the company has produced more than 15 million tons of petrochemicals during March 21, 2014-January 20, 2015.
Of this figure, he said, 4,900 tons worth $4 billion were exported and the rest valued at $142,000 were marketed domestically.
He put the value of the company's 10-month output at $8.1 billion.