Iran’s petrochemical exports will witness a major leap by the year-end, expecting to reach 25 million tons, Shahdaei said during a conference in
Tehran on Saturday, Shana news agency reported.
"We shall be expecting to see a considerable growth in the country's petrochemical revenue this year,” the Iranian deputy oil minister further said.
Shahdaei had earlier announced that 60 petrochemical projects are underway across the country, which have physically progressed from one to 99 percent with the NPC giving priority to those projects that have progressed over 60 percent.
“We hope to reach the 150-million-ton production capacity within 10 years. We need nearly $55 billion worth of investment in the petrochemical industry to implement new projects and expand output capacity,” she said.
Iran exported some 4.3 billion dollars worth of petrochemicals during the first six months of the current Iranian calendar year, which started on March 20.
The country sold more than 10 million tons of a variety of petrochemicals at Asian markets mainly in the aforementioned period.
The installed capacity of Iran’s petrochemical industry has reached some 63 million tons and is projected to soar to 130 million tons by 2020.