Iran to Launch 11 New Petrochemical Units
TEHRAN (Tasnim) – Iran's Deputy Oil Minister for Petrochemical Affairs Abbas Sheri Moqaddam announced the country plans to complete and inaugurate 11 petrochemical units in the current Iranian year (which began on March 21).
Sheri Moqaddam, who is also the managing director of Iran's National Petrochemical Company (NPC), said the 11 units will come into operation this year with the aim of increasing the country's petrochemical production by six million tons.
Iran has significantly expanded the range and volume of its petrochemical production over the past few years.
While the Islamic Republic has the capacity to produce about 60 million tons of petrochemicals per year, only 68 percent of this capacity is tapped on average, due to a variety of reasons, including lack of raw material.
Iran, which holds the world's third-largest proven oil reserves and the largest natural gas reserves, is determined to become the biggest petrochemical producer in the Middle East.
