TEHRAN - Nowadays, petrochemical industry is playing a crucial role in Iran's non-oil economy. According to official data, petrochemical exports constitute the second largest hard currency earner in Iran after crude oil. Petrochemical exports already make up nearly 33 percent of the country’s non-oil exports.

Furthermore, considering the undeniable significance of petrochemical industry in Iran’s resilient economy in the sanctions era, Iranian Oil Ministry and the country’s National Petrochemical Company (NPC) have been taking major steps to facilitate further development of this industry in recent years.

On the sidelines of this year’s exhibition, which is the 13th edition of the event, Tehran Times has conducted an interview with the Director of NPC’s Projects Ali-Mohammad Bosaqzadeh. What follows is a summary of this interview.

Petchem output to exceed 130mln mt by 2025

Regarding NPC’s plans for development of the country’s petrochemical industry in the upcoming years, Bosaqzadeh noted that Iran's annual petrochemical output, which is currently at 65 million tons, is planned to reach more than 100 million tons by the Iranian calendar year of 1400 (ends on March 2022) and to 130 million tons or nearly doubled) by 1404 (ends on March 2026).

“In this regard NPC is following a master plan which includes two major jumps in the country’s petrochemical industry, and it will rise the country’s revenues from petrochemical exports to $25 million by the year 1400,” he said.

According to the official, for the current calendar year (which ends on March 19, 2020), NPC is planning to inaugurate six major projects by the yearend.

The projects include Arak Petrochemical Complex, the first phase of Bushehr Petrochemical Complex, and Takht Jamshid SBR & PBR Production Plant in Mahshahr, Khuzestan province as well as Ilam Petrochemical Complex in northwestern province of Ilam.

The official noted that currently there are 64 petrochemical projects underway across the country with physical progresses between 20 and 99 percent.

“13 prioritized petrochemical projects are also planned to go on stream in the next Iranian calendar year of 1399 (March 2020- March 2021), and four projects are also due to be inaugurated in the calendar year of 1400,” he explained.

“With the completion of the underway projects, the country’s petrochemical output will exceed 100 million tons in the [Iranian calendar] year of 1400 and the industry’s revenues will hit $25 billion,” Bosaqzadeh said.