20 July 2021 - 12:11
  • News Code: 318822
Iran Eyes $20b in Petchem Revenue in Current Fiscal Year

TEHRAN (Shana) – The CEO of the National Petrochemical Company (NPC) announced the revenue of the petrochemical industry in the current Iranian calendar year of 1400 which began on March 21 to reach $20 billion which plays an important role in macroeconomics of the country.

Speaking on Monday, Behzad Mohammadi told the Annual General Assembly of the Petrochemical Special Economic Zone Organization that NPC is currently governing 50 petrochemical projects throughout the country, adding $14b of the revenue in the current year will be generated by exporting petrochemicals and the remaining $7 billion will be reaped from domestic sales of the products.

He pointed to the remaining 11 projects from the second leap of the petrochemical industry, and added: "Six projects will be operational by the end of this [calendar] year and five projects which were delayed due to the coronavirus pandemic will be launched in the first half of 1401."

The CEO of the National Petrochemical Company continued: "In 1400, there will be about $14 billion in hard currency earnings and $7 billion in domestic sales revenue of this industry, which is an important record, and this industry will reach this amount for the first time."

Mohammadi further added that 39 plans are being built for the third leap in the petrochemical industry, and said: "Iran's petrochemical industry will reach a capacity of 137 million tons and revenue of $37 billion in 1404, which is very important for the role of the National Petrochemical Company and the petrochemical industry in the country's macro-economy."

News Code 318822

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