Annual Iran Petrochemical Production Capacity to Reach 95m Tons

In the current fiscal 2023-24, one petrochemical project on average will be launched across the country per month, the managing director of the Iran National Petrochemical Company said on Monday.

“With the completion of these projects, the industry’s nominal production capacity will reach 95 million by the end of the year [March 2024],” the Oil Ministry’s news service Shana also quoted Morteza Shahmirzaei as saying.

Speaking at a press conference on the upcoming 14th Iran Petrochemical Forum, the NPC chief said currently, about 70 petrochemical complexes with a nominal production capacity of 92 million tons a year are producing more than 550 grades of chemical and polymer products.

14th Iran Petrochemical Forum

According to Shahmirzaei, experts, scientists and industrialists from over 15 countries will attend the 14th Iran Petrochemical Forum in Tehran on May 1-2.

“The forum will provide a good opportunity to acquire the latest knowhow and technologies. Iran has manufactured a large number of petrochemical equipment and products, and is moving toward self-sufficiency, acquiring technical knowhow and producing catalysts by relying on the expertise of its scientists and researchers,” he said.

“We need to enhance the quality of petrochemical products and produce strategic products to meet the needs of midstream and downstream industries.”

The group of Brazil, Russia, India, China and South Africa (BRICS) will for the first time attend the Iran Petrochemical Forum.

“The upcoming forum will also help Iranian companies introduce their latest achievements and plans, and the country’s investment opportunities in its petrochemical industry,” NPC Planning and Development Director Hassan Abbaszadeh said.

“The forum will focus on the completion of value chain and balanced development of the industry,” he added.

Abbaszadeh said a number of expert-level sessions will be held during the forum, noting that BRICS members are scheduled to discuss Iran’s cooperation with the group.

Published: Apr 25, 2023

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