7 May 2007 - 09:44
  • News Code: 103974
Iran to Ink Agreement on Three Petrochemical Complexes

TEHRAN – Iran will ink a contract by the end of the next month on construction of three petrochemical complexes, said the Petrochemical Development Co. manager on Sunday.

Hossein Aqaie told Mehr that the annual capacity of the complexes is 2.66 million tons.

Accounting for one million tons, one million tons, and 660 thousand tons, Golestan, Zanjan, and Lordegan constitute the petrochemical complexes respectively, he said.

The west and central ethylene lines will be put into tender, Aqaie added.

Iran is planning to earn five to six billon dollars through export of its products in the current Iranian calendar year (started March 21, 2007).

Exports of petrochemical products in the past year hit $3.03 billion that is indicative of a 31 percent increase when compared to that of its preceding year.

The managing director of Iran Petrochemical Commercial Co. (IPCC) has talked of efforts to increase Iran’s share of the world’s petrochemical market this year. He said that products of the IPCC are exported to all over the world.

“Within our long-term contracts, a large portion of our products has already been purchased,” he said.

In related news, Iran’s petrochemical production is expected to touch 98 million tons per annum by the end of Iranian calendar year 1394 (March 20, 2015).

The country plans to sell 75 tons of the predicted output.

According to the estimate, Iran needs to invest 27 billion dollars to achieve the goal and the products will earn the country 25 billion dollars per year.

Iran is expected to be the first country in the region by March 2015 that will produce ethylene, methanol, and BTX.

During the period, domestic petrochemical complexes are predicted to produce at least 12 million tons of ethylene, 10 million tons of polymer, 10 million tons of urea, 14 million tons of methanol, and 4 million tons of BTX.

News Code 103974

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