Iran Plans to Boost Petrochemical Output 8-12%

Iran plans to increase its petrochemical production to 52mn metric tons in the next Iranian fiscal year, which begins on March 21, the production control director at Iran's National Petrochemical Company, Ali-Mohammad Bassaqzadeh, said.

It is anticipated that the country’s petrochemical production will increase by 8% to 12% next year, he said, adding that existing operating units will account for 7% and the rest will be secured by new units, which are being built.

The country’s petrochemical output will reach 47mn mt by the end of the current year, Shana news agency quoted Bassaqzadeh as saying on January 25.

Petrochemical production amounted to 34mn mt in the first 9 months of the current year (March 21 to December 21, 2015), he noted.

For the time being, petrochemical units are working at 81% of their nominal capacity, a 9% increase year on year, he noted.

Iran’s petrochemical sector has set an annual output target of around 129mn mt by the end of the country’s sixth five-year development plan (2021).

The country produced 44.5mn mt of petrochemicals in the past Iranian calendar year (which ended on March 20, 2015), up by more than a tenth on the 40.5mn mt it produced the year before.