Petrochemicals account for 26% of Iran’s non-oil exports

July 4, 2018 - 18:18

TEHRAN – Petrochemical products account for 26 percent of Iran’s current non-oil exports, IRNA reported on Wednesday quoting an industry official.

As reported, Ahmad Mahdavi Abhari, secretary of the Association of Petrochemical Industry Corporations, made the remarks during a petrochemical conference in northwestern province of Tabriz.
According to Mahdavi, the country’s petrochemical sector needs $85 billion investment to reach the goals envisaged in Iran’s 1404 (March 2025-March 2026) Outlook Plan.
“Lack of feedstock has caused the country’s petrochemical exports value to fall near $18 million,” he said.
Speaking in the same conference, National Petrochemicals Company (NPC) Managing Director Seyed Reza Norouz-Zadeh put the country’s Petrochemical revenues at $24 billion during the last Iranian calendar year (ended on March 20).
“If we take necessary steps to reform and improve production processes in the petrochemical industry, we will be able to overcome sanctions [in this industry]” Norouz-Zadeh further noted.
According to the data released by NPC, Iran exported over 1.99 million tons of petrochemical products worth more than $1.167 billion in the first month of current Iranian calendar year (March 21-April 20).


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