TEHRAN – The National Petrochemical Company plans to export 23 million tons of petrochemical products, worth $11 billion, during the current Iranian calendar year (started on March 21).

NPC’s Managing Director Marziyeh Shahdaie said that with all unfinished projects coming online the country’s petrochemical industry will witness a significant boost and annual production capacity is going to reach 72 million tons, Shana reported.

“Petrochemical output is expected to exceed 59 million tons in the current year which will be an 18 percent increase year on year,” she added.

According to Shahdaie, Iran exported about 19 million tons of petrochemical products, worth near $10 billion, in the previous calendar year.

The country plans to boost its petrochemical output to 120 million tons per annum by the end of its outlook plan for the calendar year of 1404 (March 2025-March 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 last December.

EF/MA/MG