Iran eyes 38% share in Middle East petrochemical output

15 May '13

1 min read

By end of the fifth Five Year Economic Development Plan in March 2015, Iran’s share in Middle East’s total petrochemical production would rise to about 38 percent from existing 25 percent, Director of the Planning and Development Department of the National Petrochemical Company (NPC) Ramazan Ouladi has said.

The installed capacity of the country’s petrochemical facilities grew to 57.1 million tons during last year, while their contribution to industrial exports stood at 47 percent, FARS News Agency said quoting the official.

Over the past few years, Iran has significantly widened the range as well as volume of its petrochemical products, which the country exports to over 60 nations, with Far East Asia, Southeast Asia, Africa and Central Asia being its key export destinations.

Meanwhile, National Petrochemical Company (NPC) has established itself as Middle East’s second biggest manufacturer and exporter of petrochemical products, next to Saudi Arabia.

A subsidiary of the Iranian Petroleum Ministry, NPC is owned by the Government of the Islamic Republic of Iran.

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