TEHRAN - The head of Iran’s National Petrochemical Company (NPC) stated that with the implementation of the Persian Gulf Star Oil Company (PGSOC)’s ammonia plant, 450,000 tons will be added to the country's ammonia production capacity.

According to Morteza Shahmirzaei, the necessary permits have been issued for the establishment of the mentioned plant whose implementation is going to also prevent the wastage of more than 95,000 tons of hydrogen, IRNA reported.

“The total gas consumption of petrochemical complexes is less than eight percent of the country's total gas consumption, and this gas should be converted into added value and final products should be produced to reduce crude sales and complete the value chain,” the official said.

Iran's petrochemical industry accounts for 28 percent of the region's petrochemical capacity and 2.7 percent of the world's petrochemical capacity, the NPC has previously head announced.

Stating that Iran's petrochemical industry exported more than 16 billion dollars of petrochemical products to the world markets last year, he added that the products supplied to the world markets are in excess of the domestic demand, because the priority of the petrochemical industry is to meet the domestic needs in order to complete the value chain.

He pointed to the development of energy diplomacy in the 13th government and said the activity program in offshore petrochemical industries is being followed seriously and good successes have been achieved in this regard. With the expansion of relations with neighboring and aligned countries, other countries have demanded the supply of catalysts, equipment and machinery from Iran.

EF/MA