Home / Knowledge / News / Textiles / Iran plans new petrochemical hub to ease exports to Asia
Iran plans new petrochemical hub to ease exports to Asia
17
Apr '13
In order to ease petrochemical exports to India and China, Iran is planning to set up a new petrochemical hub in the south-eastern port city of Chabahar near the Sea of Oman, Abdolhossein Bayat, a Deputy Oil Minister of Iran, has said.
 
According to the official, the new hub would greatly help in cutting the cost of exporting petrochemicals to India and China, according to a Press TV report. 
 
Establishment of the proposed hub would involve an investment of US$ 20 billion and would boost the country’s petrochemical production capacity by 15 million tons, Mr. Bayat, who is also the Managing Director of National Petrochemical Company (NPC), said.
 
The need for establishment of the third petrochemical hub in the country has mainly been stirred by industrial and economic growth in east and south-east Iran, he added.
 
The first two hubs have been set up in Mahshahr, an oil-affluent city in south-west Iran and in Assaluyeh, which has huge installations of the offshore South Pars Gas Field.
 
During last Iranian calendar year, which ended on March 20, 2013, Iran earned around US$ 12 billion by exporting its petrochemical product to around 60 countries, mostly in South and South-east Asia.
 
With an aim to become Middle East’s largest petrochemical producer, Iran has considerably developed its petrochemical production volume and product range over the past few years. 
 
Iran is currently the second biggest producer and exporter of petrochemicals in the Middle East, next only to Saudi Arabia.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Prime Minister Theresa May speaking on the UK government's negotiating objectives for exiting the EU. Courtesy: UK government

Textiles | On 18th Jan 2017

UK to pursue trade agreements with other countries

The United Kingdom will pursue free trade agreements with the EU and...

Courtesy: IMF

Textiles | On 18th Jan 2017

Risks to global growth outlook skewed to downside: IMF

Risks to the global growth outlook are two sided but are assessed to...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search