IRAN: Petrochemical production capacity to double within years

Deputy of Iran’s National Petrochemical Company (INPC) has announced that Iran’s petrochemical productions capacity will double by the year 2018.

Speaking at a conference on introducing investment opportunities and development in petrochemical industries during the post sanction period, Mohammad Hasan Peyvandi said, “currently, petrochemical production capacity has reached 100 million tons per year and an average of 45 million tons of petrochemical and polymer products is being produced and marketed in the country.”

Peyvandi deemed removal of production bottlenecks and increase in production capacity as major policies pursued in the Iranian petrochemical industry adding “the goal is to double the production capacity by attracting foreign investment reaching the production quota of 120 million tons per year until the year 2018.”

Source: Mehr News Agency, Tehran; 10 Nov 2015
(Syed Rashid Ali, Karachi, Pakistan)