The post Iran’s new export targets in the petrochemical market appeared first on IRAN This Way.
]]>“In the year of “Surge in Production”, the petrochemical industry is trying to benefit from the most of the domestic capabilities and with new petrochemical projects being inaugurated, the production capacity in this industry will increase significantly,” IRNA quoted Ali-Mohammad Bosaqzadeh as saying.
He said the petrochemical industry is now the center and pillar of the country’s economic development and is in close collaboration with all industrial sectors, adding that injecting resources into the productive sectors and prohibiting the waste of national resources can lead to the second and third leaps in the petrochemical industry.
Noting that the balanced development of the petrochemical industry is of particular interest among NPC strategies for the current year, he said: “In this regard, the development of downstream petrochemical industries is going to prevent the sale of raw materials and will result in the production of products with higher added value.”
With several new projects going operational, the Iran’s petrochemical production capacity is going to increase significantly.
He further noted that most of the underway projects in this industry are currently using domestic equipment, licenses and technological knowledge of Iranian experts.
Considering the undeniable significance of the petrochemical industry in Iran’s resilient economy in the sanctions era, the Iranian Oil Ministry and the country’s National Petrochemical Company have been taking major steps to facilitate further development of this industry in recent years.
Back in September 2019, Bosaqzadeh noted that Iran‘s annual petrochemical output, which is currently at nearly 70 million tons, is planned to reach more than 100 million tons by the Iranian calendar year of 1400 (ends on March 2022) and to 130 million tons or nearly doubled) by 1404 (ends on March 2026).
Also in August 2019, Oil Minister Bijan Namdar Zanganeh had announced that the country’s annual petrochemical output is expected to reach more than 100 million tons by 2021, despite U.S. sanctions.
The post Iran’s new export targets in the petrochemical market appeared first on IRAN This Way.
]]>The post Iran’s NPC inks MoUs with four intl. firms appeared first on IRAN This Way.
]]>Director of National Petrochemical Company (NPC) made the remarks on the sidelines of the 13th International Iran Petrochemical Forum (IPF 2017) on Saturday morning in Tehran.
“The Iranian petchem industry was warmly welcomed following sanctions removal and talks have been held with credible international companies like Shell and Total,” she added.
Shah-Daei, while noting that four cooperation agreements have been so far inked, said “Iranian firms and holdings could take the emerged opportunity to attract technology and investment to the country.”
The official said the foreign parties were conducting technical analysis in order to determine the precise amount of investment; “the petrochemical industry requires large volumes of investments hence the need to rely on foreign financers.”
NPC managing director went on to stress that the JCPOA paved the path for cooperation between Iranian and foreign firms as evidenced by increased presence of foreign parties inside the country.
Marzieh Shah-Daei, while referring to the need for 40 billion dollars of financial resources for investment in new petchem projects, enumerated major advantages of the Iranian industry including favorable geographical location, low production costs as well as feedstock diversity.
On resolving banking issues, she maintained that foreign firms had agreed to launch cooperation with banks in a bid to prepare grounds for guaranteed investment.
NPC head later emphasized that priority was given to projects which consume natural gas and help complete the production chain.
Production volume of the Iranian petrochemical industry has reached 62 million tons while the figure is expected to hit 72 million tons with inauguration of seven new complexes by the end of the current Iranian calendar year (to end March 21, 2018).
Last year, Iran deployed 21 million tons of petrochemical products worth 9.4 billion dollars to international markets.
National Petrochemical Company (NPC) of Iran is holding its 13th International Iran Petrochemical Forum (IPF 2017) with collaboration of Iranian Inc. for Contemporary International Conferences & Fairs (IICIC), on 22-23 April 2017 at IRIB Int’l Conference Center in Tehran, Iran.
The post Iran’s NPC inks MoUs with four intl. firms appeared first on IRAN This Way.
]]>The post Iran Petchem Industry in Need of $55b Investment appeared first on IRAN This Way.
]]>Managing Director of the National Petrochemical Company (NPC) Marziyeh Shahdaei has said Iran will need $20b in fresh investment in order to finish its unfinished projects by the next 5 years, adding the project have made 2 to 30% physical progress so far.
She said based on NPC’s plans, the country’s petrochemical output will reach 150 million tons per year within the next 10 years and for realization of the plans, Iran will need an investment of at least 55 billion dollars.
Iranian petrochemical plants can supply 64 million tons of petrochemicals annually but the capacity is estimated to cross 100 mt/y within the next 5 years.
The country is also planning to more than triple its petrochemical output and bring it to 180 mt/y by 2025.
The post Iran Petchem Industry in Need of $55b Investment appeared first on IRAN This Way.
]]>