19 July 2016 - 14:06
  • News Code: 265271
Iran Petchem Revenue to Cross $5.1b by Yearend

TEHRAN, July 19 (Shana) – Minister of Petroleum Bijan Zanganeh said on Tuesday that projects, costing $5.4 billion and with annual production capacity of about $5.1 billion (in base price of the year 2011) worth petrochemical products, will be operational in the Iranian calendar year of 1395 (started on March 20).

Zanganeh made the remark in ceremony for inauguration of the Ammonia and Urea Unit of Shohadaye Marvdasht.
He said commissioning of the projects during sanctions is praiseworthy.

He added that the petrochemical projects, operational during Government of Hope and Prudence, are Lorestan, Takht-e Jamshid of Mahshahr, Mahabad, Urmia Sulfuric Acid and Marvdasht. 

The Minister said Kavian 2, Morvarid, Phase II of Karun, Kordestan Polyethylene, Phase III of Pardis, Assalouyeh Urea and Ammonia, poly Stalin,  and methanol of Dayer will be operational by March 20, 2017, marking end of the current Iranian calendar year of 1395.

He said collection of the projects will bring total value of the petrochemical products to more than five billion dollars.

The minister announced that for next year, such projects are going to be operational: Hegmataneh, Bushehr, Marjan, phase I of Mahshahr Bou Ali Sina in Mahshahr .

He said the value of the petrochemical projects for end of the first half of next year will be eight billion dollars and their commissioning will raise value of production to more than 6.7 billion dollars in base prices of the year 1390 (2011-12).

The Petroleum minister then underlined activation of the downstream petrochemical industry and said foreign financing should be used for the purpose.

Putting total value of petrochemical products at one billion dollars in all in 1997, he said in one year the value is increased to five billion dollars. "These are highly important  figures. Almost one and half percent gross production of petrochemicals that are vital for country's economy."

Concluding his remarks, the minister underlined taking the issue of safety highly seriously.
News Code 265271

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