Home / Knowledge / News / Textiles / Iran set to inaugurate eight petrochem projects this year
Iran set to inaugurate eight petrochem projects this year
May '13
Dr. Abdolhossein Bayat (FNA)
Dr. Abdolhossein Bayat (FNA)
Eight of the 31 petrochemical development projects identified by the Iranian Government are set to go online in Iran during the current Iranian calendar year that began on March 21, 2013.
A sum of US$ 5.6 billion plus an additional 56 trillion rials was set aside for the 31 projects with a total rated capacity of 13 million tons, FARS News Agency reported, quoting Iranian Deputy Oil Minister for Petrochemical Affairs Abdolhossein Bayat. 
Seventeen of these 31 projects were brought online during last calendar year, resulting in an increase in the country’s nominal petrochemical capacity by over eight million tons, Mr. Bayat, who is also the Managing-Director of the National Petrochemical Company (NPC), said.
The remaining 14 projects, with a proposed capacity of 4.837 million tons, would boost Iran’s overall petrochemical capacity to 60 million tons, he said.
Another 21 petrochemical projects worth US$ 13 billion have also been identified, Mr. Bayat said, and added that around US$ 6 billion would be earmarked for these projects by Iran’s National Development Fund (NDF). 
Iran produced 41 million tons of petrochemicals during last calendar year that ended on March 20, 2013, and the country looks forward to boost its overall petrochemical capacity to 100 million tons by 2015.
Around 15.6 million tons of last year’s total produce, which was shipped to around 60 countries including South and South-east Asian countries, fetched about US$ 12 billion, Mr. Bayat said.
He added that India, Far East, China, Middle East, Europe and Africa are the key export destinations for Iranian petrochemical industry.
Moreover, Iran is planning to soon set up three new petrochemical hubs, which would make it the largest petrochemical producer in the Middle East, Mr. Bayat said.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
March 2017

March 2017

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


Browse Our Archives


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