Home / Knowledge / News / Textiles / Iran set to inaugurate eight petrochem projects this year
Iran set to inaugurate eight petrochem projects this year
07
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

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Evelyne Cholet
UCMTF

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Urmil Arya

Sushila International, a well established textile organisation established ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Silvia Venturini Fendi
Fendi s.r.l

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

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search