Annual petchem exports are expected to reach $14 billion by the end of March
TEHRAN – The value of Iran’s annual petrochemical exports is expected to reach $14 billion in the current Iranian calendar year (ending March 20), the chief executive of the National Petrochemical Company (NPC) said on Tuesday. .
Making the remarks at a press conference on the sidelines of the 15th Iranian International Plastics, Rubber, Machinery and Equipment Exhibition (IRAN PLAST), Morteza Shah-Mirzaei said the production of 68 active petrochemical complexes in the country is expected to reach 65 million tons by the end of the year, of which 30 million tons exceed domestic needs and will be exported to world markets.
The official further estimated the nameplate capacity of the country’s petrochemical sector at more than 140 million tons per year and said that this figure is expected to reach 105 million tons by the next Iranian year.
Technical knowledge for national production acquired
Elsewhere in his remarks, the NPC Director General highlighted Iran’s notable success in acquiring technical knowledge and technology for the domestic production of parts and equipment as well as products required in the petrochemical sector. and said, “By acquiring this knowledge for domestic production, the process of supplying the required products will be accelerated.”
The NPC is currently cooperating with knowledge-based enterprises and research institutes in this regard, he said, adding, “For example, the enterprise is moving towards domestic production of all necessary catalysts.”
Although he said that for those plans that should be implemented soon, the NPC is currently importing some items.
“We imported $1.8 billion worth of petrochemicals needed in different industries in the past year, the figure for this year is $1.5 billion; this downward trend together with ongoing projects indicate that imports will be zero within four to five years,” the official added.
Completion of the value chain on the agenda
Elsewhere in his remarks, Shah-Mirzaei mentioned the current government’s emphasis on domestic production as well as the oil minister’s emphasis on completing the value chain and said the NPC had many plans to that end.
“We have many suggestions on this. We have also prepared many incentives for the plans to complete the value chain of complementary products and industries, so that they reach the desired result sooner,” the Vice Minister of Petroleum pointed out.
Events such as Iran Plast are good opportunities in this regard, as they lay the groundwork for matching technology hubs and knowledge-based companies with production units in line with the realization of value chain objectives, again underlined the manager.
The 15th Iran International Exhibition of Plastics, Rubber, Machinery and Equipment (IRAN PLAST) kicked off at Tehran International Permanent Exhibition Center on Monday and will end on Thursday.
The opening ceremony was attended by senior officials, including Petroleum Minister Javad Oji, NPC Director General Morteza Shah-Mirzaei, as well as members of parliament and ambassadors from various countries in Tehran.
As mentioned, more than 430 domestic and foreign enterprises from various countries, including China, Taiwan and Italy, participate in this four-day exhibition.
The exhibition, which is held in full compliance with health and safety protocols, covers four main areas, namely raw materials, machinery and equipment, finished and semi-finished products and services.