Iran's petrochemical production grows since 2005

28 Aug '12

2 min read

Iran’s petrochemical industry has been on an upward swing since the last eight years. Experts believe that the production of petrochemicals in the country has increased by nearly170 percent since President Mahmoud Ahmadinejad took office.

Since 2005, around 38 petrochemical plants have been established in the country. These plants have further helped in increasing the production from 20 million tons to 54 million tons per year.

The new petrochemical units set up during the period include Olefin-7 in Marun petrochemical facility, Methanol IV in Zagros petrochemical facility, Aromatic IV in Borzuyeh petrochemical facility, PTA/PET II in Tondguyan petrochemical facility, Olefin 10 in Jam petrochemical facility. The Assalouyeh Ethylene project in Morvarid petrochemical facility has also become operational during the tenure of Mr. Ahmadinejad.

Industry experts estimate that nearly 5.2 million tons of petrochemicals, worth US$ 55.1 billion were exported between the years 2005 to 2011. Moreover, some 55.4 million tons of petrochemical products were sold inside the country during the same period.

Iran exports its petrochemical products to more than 60 countries around the world.

Analysts say the countries buy petrochemicals from Iran are keen on extending their contracts by 15 to 25 years because of the high quality of petrochemicals produced in the country.

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