Iran eyes to boost petchem output

Iran's National Petrochemical Company (NPC) seeks to increase the country's petrochemical production capacity to 130 million tons per year.

The Planning and Development Bureau of NPC announced that the company plans to raise petrochemical output of the country to 123 million tons per year by the end of the 6th Five-Year Development Plan (2021), Shana reported.

Besides, the country targets export of 93 mt/y of petrochemicals annually which will fetch it $61 billion by March 20, 2021.

The bureau also announced that 21 petrochemical projects have been introduced to Chinese credit line that is valued at $16.76 billion while another 19 projects are to be financed by the National Development Fund of Iran (NIFI) for $5.875 billion of finances.

Besides, 20 other projects, valued at $5.96 billion, are lined up to get National Development Fund finances and 9 projects, valued at $2.72 billion, will be financed by alternative resources.

Iran has defined dozens of petrochemical projects which will triple its annual production capacity from the current 60 mt/y to 180 mt/y.