Petrochemical production capacity to exceed 70m tons

Iran's petrochemical production capacity will stand at 72 million tons with the commissioning of six petrochemical projects in the year to March 20, 2018, according to a report.

Some 11 petrochemical projects are scheduled to go on stream this year, of which five have so far been implemented, reported IRNA quoting a National Iranian Petrochemical Company report.

With the completion of the six other projects, total production capacity of the petrochemical industry will reach 59 million tons.

The value of petrochemical sales will also exceed $17 billion, of which 67 percent and 33 percent will pertain to exports and domestic sales respectively.

Some 50.6 million tons of petrochemicals were produced in the year to March 20, 2016 when production capacity stood at 61.9 million tons. Exports of petrochemical products during this period generated $9.5 billion.