Iran to rank 10th worldwide in petrochemical industry

Dec 27, 2004 01:00 AM

Following the implementation of 10-year development plan for Iran’s petrochemical industry, the country’s international ranking will rise from the current figure of 80th to 10th in 2015.
The managing director of the National Petrochemical Company, Mohammad Reza Nematzadeh, told a ceremony marking the 40th anniversary of establishment of petrochemical industry in Iran that total worth of Iran’s petrochemical products will hit $ 20 bn. He added that the National Petrochemical Company was established in December 26, 1963, but its development was stymied due to the Islamic revolution and the Iran-Iraq war.

The official stated that since 1997, 15 projects have been designed, most of which have been implemented or are on the verge of commissioning, which are expected to become operational by the end of the current Iranian calendar year (started March 20, 2004).
"The projects will increase Iran’s petrochemical production to 38 mm tpy while total value of products will hit $ 10 bn. In other words, the value of Iran’s petrochemical products will stand at about $ 9-10 bn by 1385 (2006-07)," he added.

Nematzadeh stated that Iran’s petrochemical industry ranks 80th in the world, but the ranking is expected to improve to 60th by the end of 2004; and between 40th and 50th in 2005. He said a 10-year outlook plan has been formulated for Iran’s petrochemical sector and has been approved by the Oil Ministry according to which the value of saleable petrochemical products will hit $ 20 bn by 2015.
The managing director went on to note that the National Petrochemical Company is taking suitable strides in such fields as training experienced manpower, increasing research activities, and encouraging private investments in petrochemical industries.

Source: PetroEnergy Information Network
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