Mohammad-Hassan Keshvari added, “By completing the second phase of Ghadir Petrochemical Company’s urea and ammonia units, Lavan Chemical Company in collaboration with Arak Petrochemical Company and an Indian company would put phases 3-5 into operation in the region.”

He said the second phase had had a 95 percent progress, expressing hope it would become commercially operational in the current year.

Ghadir Petrochemical Company is a strategic plant in Pars Special Energy Economic Zone (Assalouyeh), which is expected to export 1.15 million tons of urea and ammonia per annum.

Keshvari mentioned that the newly inaugurated first phase of Ghadir Petrochemical Company with a 60 percent nominal capacity would produce for six months and 70 percent of its nominal capacity would be applied in the first year of production.

National Pterochemical Company (NPC) Managing Director Gholam-Hossein Nejabat said 53 percent of the ammonia unit project was implemented by domestic experts and its feedstock, two million cubic meters of gas per day, was supplied by phases 1-3 of South Pars field.

The Central Bank of Japan provided a finance equaling to 220 million dollars and 600 billion rials (64.9 million dollars) for the implementation of the first phase of Ghadir Petrochemical Company.

Iran is determined to increase the petrochemical production by more than 50 percent in the current year.

The country has planned to produce 30.3 million tons of petrochemical products in the current year.

Of the targeted figure, 5.901 million tons will be distributed among domestic petrochemical complexes, 4.442 million tons is sold inside the country, and 12.107 million tons is exported.

To feed the country’s petrochemical complexes, 4,330 tons of gas liquids, 2,270 tons of naphta and oil liquids, 16.62 billion cubic meters of natural gas, 2.99 billion cubic meters of sour natural gas, 6,220 tons of gas condensates, 5,870 tons of ethane and heavier layers of natural gas, and 50,000 tons of kerosene are required.

The country is implementing 24 petrochemical projects in the Fourth Five-Year Socioeconomic Development Plan (2005-2010).

Up to now, the projects have totally made 29.5 percent physical progress and are to produce 22.798 million tons of petrochemicals per annum.

When the projects come on stream, they are expected to earn Iran 7.78 million dollars annually.

Nejabat said Iran would make a 12.3 billion dollar investment in the sector in the Fifth Five-Year Socioeconomic Development Plan (2010-2015)

He said the NPC would invest the huge sum in 27 petrochemical projects during the Fifth Plan, out of which 9.2 billion dollars would be funded by hard currencies.

“The investment helps the sector increase the petrochemical out by 33.7 million tons during the plan,” predicted the official.

Nejabat reiterated 24 petrochemical projects with a 14.8 billion dollar fund had been included in the Fourth Plan, with some becoming operational.

The NPC head said 13 petrochemical projects would become operational in the current year, adding three of them were ready for inauguration.

“At present, Iran accounts for 12 percent of the Middle East’s petrochemical output, valued at 25 billion dollars, and the share will touch 34 percent by the end of 20-year Outlook Plan, 2015,” said Nejabat.

“The country’s world share is 0.9 percent, which is predicted to reach 6.3 percent by 2015.

“According to the Fifth Plan, Iran’s annual 55 million ton production will soar to 158 million tons per annum.”

Petrochemical products accounted for the highest share of non-oil goods Iran exported in the past Iranian calendar year (March 21, 2006 to March 20, 2007).

Totally 42.2 percent of the weight and 38.6 percent of the value of exported non-oil products belonged to petrochemicals.

The country exported 14,236,800 tons of petrochemical products, valued at 6.11 billion dollars, during the yearlong period, showing 115.5 and 140.8 percent increases in terms of weight and worth respectively when compared to those in their preceding year.

According to the Customs Administration, gas liquids (propane, butane), polyethylene, methanol, benzene, and different types of tar were the main petrochemicals exported abroad as they constituted 81 percent of the revenues fetched by petrochemical products.

Iran"s petrochemical products have been sold to more than 250 clients from 40 states.