TEHRAN – Iranian petrochemical industry’s feedstock capacity is going to increase by 15 million tons, Shana reported quoting the head of National Petrochemical Company (NPC).

“With the implementation of six new petrochemical feedstock supply projects, the industry’s feedstock supply capacity will increase by 15 million tons,” Behzad Mohammadi said.

According to the official, some $8.3 billion has been invested in these six projects which are going to create several projects in the industry’s downstream sector.

Petrochemical industry is one of the most important pillars of Iran’s economy and one of the main suppliers of foreign currency especially euro for the country.

According to Iranian Oil Minister Bijan Namdar Zanganeh, the country is currently producing 62 million tons of petrochemical products annually and with the new projects going on stream the number is expected to jump to 65.5 million tons further cementing the Islamic country’s stance as a major petrochemical supplier to the world markets.

EF/MA