Iran is moving ahead with the construction of a string of new petrochemical ventures to become a leading player in the regional petrochemical market and make more profit of its massive hydrocarbon resources, the head of the National Petrochemical Company said.
“Iran is working on 56 petrochemical projects, which will add an estimated 55 million tons of petrochemicals to annual production capacity upon their completion,” Marzieh Shahdaei was also quoted as saying by NIPNA on the sidelines of a four-day exhibition of Iranian goods and services in Istanbul, Turkey, on Wednesday.
Iran's annual petrochemical production capacity is estimated at 62 million tons. NPC is aiming for 72 million tons in annual capacity by March 2018, the end of the present fiscal year.
Having access to huge natural gas reserves, sharing a coastline with Persian Gulf and Sea of Oman, and its location in the vicinity of international markets have given the state a competitive advantage and encouraged foreigners to transfer modern technology to Iran.
On the indigenization of cutting-edge technologies in the sector, Shahdaei stressed that Iran is currently pursuing a plan to produce propylene from methanol.
