TEHRAN-Iran’s worth of annual petrochemical exports is forecast to hit near $9 billion by the end of current Iranian calendar year (March 20), National Petrochemical Company (NPC) Managing Director Marziyeh Shahdaie told IRNA on Wednesday.

The country exported $9.5 billion worth of petrochemicals in the past Iranian calendar year, according to Ali-Mohammad Bosaqzadeh, the production control director of NPC. 

Shahdaie also said that the weight of Iran’s annual exports of petrochemical products is anticipated to hit 21 million tons by the yearend, rising from 19 million tons in the previous year.

The official further put the weight of Iran’s petrochemical production at over 48 million tons during the first ten months of the current calendar year (ended on January 19) and said that the figure is forecast to reach 52 million tons by the yearend, with 20 percent rise from the figure of previous year.

Iran plans to boost its petrochemical output to 140 million tons per annum by the end of its outlook plan for the calendar year of 1404 (March 20, 2026) and $70 billion of investment is required to meet this objective.

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, Farnaz Alavi, the NPC director for planning and development, announced in last December.

It also comes true about Asian companies, especially the petrochemical giants in Southeast Asia, the official added.

MA/MG