TEHRAN- The future of Iran’s petrochemical industry is promising after the implementation of JCPOA (Joint Comprehensive Plan of Action which lifted sanction against Iran in January 2016), Oil Minister Bijan Namdar Zanganeh said on Saturday.
The minister made the remarks on Saturday in the inaugural ceremony of the 13th edition of Iran Petrochemical Forum (IPF) which will wrap up today, Shana reported.
Given that Iran ranks the first and fourth in the world in terms of gas and oil reserves, respectively, no country enjoys feedstock as much as Iran to develop its petrochemical industry, Zanganeh highlighted.
‘Annual 72m tons of output achievable’
Addressing the same ceremony, Marziyeh Shahdaie, the managing director of National Petrochemical Company (NPC), said considering existence of proper infrastructure as well as ample feedstock in the country in post-sanction era, achieving the goal of annual petrochemical output of 72 million tons seems accessible in the current calendar year (started on March 21).
The official put the country’s annual petrochemical production at 50 million tons in the past calendar year and said that 21 million tons of petrochemical products worth $9.4 billion were exported in the previous year.
The 13th edition of IPF plays host to 101 participants, representing 76 foreign companies from 18 Asian and European countries.
MA/MG
