Home / Knowledge / News / Textiles / Iran eyes 41% share in ME petrochem output by 2020
Iran eyes 41% share in ME petrochem output by 2020
11
Jun '13
Mr. Abdolhosain Bayat/ FARS
Mr. Abdolhosain Bayat/ FARS
Iran’s contribution to the Middle East’s petrochemical output is expected to grow to about 41 percent by end of the sixth Five-Year Development Plan in 2020, according to an official of the National Petrochemical Company (NPC).
 
Iran’s petrochemical output is set to grow by 55 million tons by 2020, which would make the country one of the leading most petrochemical producer in the region, FARS News Agency reported quoting NPC managing director Abdolhosain Bayat.
 
Highlighting NPC’s targets for the five-year development plan, he noted that by 2015, the firm’s nominal petrochemical production capacity would grow to 100 million tons, while product diversification, upgradation and boosting its presence in local as well as overseas markets are some other top priorities for the company.
 
NPC plans to set up 33 new petrochemical plants during the sixth five-year plan period, Mr. Bayat said and added that the company aims to establish itself as the biggest manufacturer of petrochemical products in the Middle East by 2025.
 
Given their know-how and the determination of the Iranian experts to achieve the goal, the target seems to be quite feasible, he added.
 
Pointing at privatization of 25 petrochemical plants in past few years, the NPC chief in his earlier statement said that privatization has rationalized the sector’s functioning. Also, he noted that the process of privatization is still on with the process of establishment of Persian Gulf Holding, incorporating 15 petrochemical plants, being underway.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Courtesy: Carnegie Fabrics

Textiles | On 17th Jan 2017

Calera Capital acquires majority stake in Carnegie Fabrics

Private equity firm Calera Capital has bought a majority stake in...

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Paolo Ocleppo
Sandvik Hyperion

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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