Annual petrochemical revenues are expected to reach $25 billion in 2021, President Hassan Rouhani announced on Monday addressing investors and businesses involved in the petrochemical industry in Tehran.
“As more petrochemical projects come on stream gradually, the present at $17 billion annual earnings will rise by 47% in two years,” Rouhani said according to a report by IRNA.
The sector’s annual output was 55 million tons in 2013 and increased by 20% in the last six years to reach 65 million tons, he added.
Production is projected to exceed 80 million tons in 2021.
The National Petrochemical Company has announced that improvement and optimization of 12 petrochemical plants are underway in different provinces.
Plans call for raising output in Bandar Imam Petrochemical Complex, Shahid Tondgouyan Petrochemical Complex in Bandar Mahshahr, Takht-e-Jamshid Petrochemical Plant in Mahshahr Special Petrochemical Economic Zone in Khuzestan Province and Urmia Petrochemical Plant in West Azarbaijan Province by 150,000 tons, 26,000 tons, 50,000 tons and 40,000 tons a year, respectively.
Development of other ventures namely Kavian Petrochemical Plant in Asalouyeh, Nouri and Jam petrochemical companies in the southern Bushehr Province as well as Morvarid and Mobin petrochemical complexes in the southern port city of Asalouyeh will also contribute to revenues in the key sector.