Iran’s petrochemical production capacity should hit a record of producing 100 million tonnes of petrochemical products by the end of this Iranian calendar year (March 20, 2022). Total investment in the sector between 2013 to 2021 reached $25 billion, some $11 billion of which was invested in the last Iranian year, President Hassan Rouhani recently announced.

During the eight-year tenure of Rouhani, 32 petrochemical projects with a capacity of 34 million tonnes became operational.

It is expected that Iran's annual revenue from the petrochemical industry will reach $25 billion after ongoing development projects get over, according to a news agency report.

The second jump in the sector has been pursued with the aim of shifting from selling raw materials to home-made products as well as decreasing import of petrochemical materials.

Some 39 projects will be inaugurated in the third jump of the petrochemical industry by the end of Iranian year 1404, which will end on March 20, 2026.

Fibre2Fashion News Desk (DS)

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.