TEHRAN (Mehr News Agency) – Iran’s petrochemical production to reach 65 million tons by 2015, the Iranian Oil Minister announced.

Speaking at the opening ceremony of the second Iran Plast Fair in Tehran, Bijan Namdar Zanganeh added that the petrochemical output would be worth $20 billion at the time, consisting 11 million tons of polymer, plastic materials.

“The development process of South Pars fields in Asaluyeh has since then resulted in the high-rate production of polymer products “for the site is remarkably rich in gas resources”, he stated.

The gas resources of the region, which covers phases nine and ten of the Alfin Petrochemical Complex, will be extended through the next decade, Zanganeh included. The ninth phase of the Alfin is being operated by the joint-ventured Aria-Sasol Company, which was established under a contract between the NPC subsidiary Pars Petrochemical Company (PPC) and the South African Sasol.

Meanwhile, the minister added that the National Petrochemical Company alongside the National Iranian Oil Company (NIOC) and the National Gas Company has already completed the project of a recovery unit in Marun Petrochemical Complex, which is capable of converting gas derivatives to polymer materials. “Some 900,000 of polymer materials will be added to the country’s polymer production network through March-August 2004.”

Asked about the prices of the petrochemical products, Zanganeh stated that, as the world prices of such products are continuously changing, it seems “We should no more follow the price stability plan”. ER/IS END MNA