He further noted that new petrochemical projects would come online during the period, increasing the total production capacity of the petrochemicals to 103 million tons.

Elsewhere in his remarks, he said that over the Seventh National Development Plan, about 60 petrochemical projects will be coming online, creating 35 million tons of extra capacity, some of which have more than 50 percent physical progress.

According to him, Iran’s petrochemical production capacity will climb from 96 million tons to 132 million tons at the end of the 7th National Development Plan.

Last week, Deputy for Planning at the Petroleum Ministry, Houshang Felahatian said that the petrochemical industry was a fertile ground for realizing the Seventh National Development Plan targets even though success in the sector requires investment in completing the value chain.

He made the remarks during the closing day of the 15th Iran Petrochemical Forum here on August 5, expressing hope that dialogues and exchanging views offered in the forum sessions would result in finding ways to promote the place of the petrochemical industry.

Referring to the importance of the petrochemical sector in the country, he said that part of non-oil exports is derived from the petrochemical sector whose capacity and worth are on the rise by launching new projects.

By launching new projects, the petrochemical sector's annual production capacity will reach 103 million tons before the end of current Iranian calendar year of 1403, which ends on March 19, 2025, the official said.

Felahatian told the audiences that implementation of about 70 petrochemical projects is underway with the majority of them over 50 percent progress adding the country’s petrochemical production capacity will hit 130 million tons annually at the end of the Seventh National Development Plan in the next five years.