According to Ahmad Mahdavi-Abhari, last Iranian year, 11 new petrochemical complexes went operational across Iran which increased the country’s petrochemical output by about 10 percent, IRNA reported.
The official noted that despite the problems created by the US sanctions, the Islamic Republic has continued to export petrochemical products.
He said, "Based on a predetermined procedure, the transfer of petrochemical revenues into the country is underway."
Iran has been developing its petrochemical industry over the past few years as the development of the giant South Pars Gas Field (Iran shares with Qatar in the Persian Gulf) has been supplying more feedstock to the petrochemical units.
According to the National Petrochemical Company (NPC), the second leap of the petrochemical industry is going to be realized in the current Iranian year to boost the country’s annual petrochemical revenues up to $25 billion.
The third leap of the industry, which is aimed at increasing the revenues to $37 billion, is also planned to take place in the Iranian year of 1404 which will begin in March 2025.