NPC: Petrochemical production record expected by next March

Iran is geared to set an unprecedented record for the second consecutive year in the production of petrochemicals during the year to mid-March 2018, said a director of National Petrochemical Company (NPC).

Ali-Mohammad Bassaqzadeh, NPC's director for production control, added that during March 21-July 22, 2017, Iran produced 18 million tons of petrochemicals and polymeric products, Shana reported.

He said, "This year's figure witnessed a growth compared to that of the same period last year. The increase was achieved despite the major and periodic overhauls undertaken in Iran's large petrochemical complexes since three months ago. Undoubtedly, Iran's petrochemical output will witness a further rise following the completion of maintenance works.

In this duration, Iranian petrochemical companies exported 60 percent of their products and sold the remaining 40 percent domestically to meet the needs of processing industries.

Bassaqzadeh said Iran's petrochemical output and production of polymeric materials are expected to amount to 56 million tons by mid-March 2018, adding in case this target is achieved, Iran will manage to set a fresh record which is unprecedented in the history of the country.

Last year, he recalled, Iran produced 51 million tons of petrochemicals, adding, this year, domestic companies are expected to put 86 percent of the industry's installed capacity into operation.