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Iran to expand petrochem projects in western provinces
11
Apr '14
With the aim of boosting petrochemical output and increasing employment, Iran is planning expansion of petrochemical projects in the western provinces of the country, said Mohammad Hassan Peyvandi, deputy executive manager of the National Petrochemical Company (NPC).

Mr. Pevyandi said that the NPC would be implementing several new projects in the western provinces of Lorestan and Kurdestan, as well as the western city of Mahabad, during the current Iranian calendar year which began on March 21, 2014, reports Shana News Agency.

The NPC official also informed that the completion of the West Ethylene pipeline, which is 1,500 km long, would also be given priority during the year. The pipeline would carry feedstock to petrochemical plants that lie on its route stretching from Assaluyeh in southern Iran to West Azarbaijan province in north-western Iran, as well as cater to the feedstock requirements of Lorestan, Mahabad and Kurdestan petrochemical plants.

Meanwhile, Iran’s petrochemical exports are expected to touch US$ 12 billion during the current year owing to several international investments, as per the NPC estimates.

According to the NPC, during the recent years, the domestic sale of petrochemicals has increased significantly due to the implementation of new development projects in the sector and the petrochemical production capacity is expected to significantly rise during the current calendar year, which would help in raising exports.

The development of Iranian petrochemical industry requires investments worth US$ 33 billion and completion of the projects would help in generating revenues worth $25 billion for the country, as per NPC estimates.

Fibre2fashion News Desk - India

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