TEHRAN – Iran’s petrochemical sector’s exports has increased by seven percent during the first nine months of the current Iranian calendar year (ending December 20, 2016) compared to the same period last year.

The country exported 16 million tons of petrochemical products in the mentioned period, Ali Mohammad Bosaqzadeh, the production control director at Iran’s National Petrochemical Company (NPC), told Shana on Monday.

According to the official some 40 million tons of petrochemical products were produced in the country during the said time span to register an eight percent rise compared to the previous year.

“Witnessing a 17 percent rise compared to the first nine months of the preceding year, this year’s 12.5 million tons of the total production were used inside the country which is an indication of more activity in this industry’s downstream sector,” he said.

Bosaqzadeh also noted that the country’s petrochemical complexes’ output has witnessed a 5-10 percent rise during the first half of the current Iranian calendar year (March 20-September 21, 2016) compared to the same period in the previous year.

After the implementation of Iran’s nuclear deal, NPC has received high willingness from European companies for cooperation with Iran in the petrochemical sector both in financing and licensing.

According to NPC Managing Director Marziyeh Shahdaie, Iran has reached 70 percent self-sufficiency in manufacturing equipment needed in petrochemical industry.

EF/MA