Iran’s petrochemical industry has reportedly produced more than 23 million tons of petrochemical products in the first eight months of the current Iranian calendar year.

“The total production of petrochemicals reached 23 million tons from March 21 to November 6,” SHANA news agency reported.
The report added that the oil-rich country also exported 8.5 million tons of petrochemical products worth more than $5.05 billion in the first six months of this year.
The products included polyethylene, methanol, benzene, ammonia, sulphur, PVC and propylene.
Iran’s Customs says the figure indicates a 50 percent increase compared with the same period last year.
Iran, the world’s fifth largest oil producer, exported around 14 million tons of petrochemical products worth more than $9 billion in 2009.
In May, the managing director of the National Iranian Petrochemical Company (NIPC), Abdolhossein Bayat, said Iran accounts for 25.8 percent of the Middle East’s production of petrochemicals.
“This year will see a 10.5-million-ton increase in the production capacity because of a 5.2-billion-dollar investment in the petrochemical sector,” Bayat said.
He predicted that the volume of petrochemical exports would hit 17.9 million tons this year.
Bayat added that Iran, compared to other regional countries, is in a better position in terms of investment in its petrochemical sector.
(Source: Press TV)