TEHRAN - Iran’s petrochemical exports reached $3.39 billion in the first quarter of the current Iranian calendar year (March 20- June 20), according to the director general of the Association of Petrochemical Industry Corporation (APIC).

Ahmad Mahdavi Abhari said in a press conference on Monday that about three million tons of petrochemical products were sold inside the country and 7.74 million tons worth $3.39 billion were exported during this period.

He put the country’s total petrochemical output in the mentioned three months at 30 million tons, adding that about 11 million tons were also been supplied to be used as feedstock to produce products with more added value.

According to the official, if the current trend of exports continues the revenues of the sector will exceed those earned in the previous year.

Back in May, the head of the National Petrochemical Company (NPC) Morteza Shahmirzaei said over 97 petrochemical facilities are operating across Iran.

The official referred to the growth in Iran’s petrochemical industry, adding that there were only six petrochemical complexes in the country when the 1979 Islamic Revolution toppled former Shah and the Islamic Republic was founded 45 years ago.

Noting that the country produces some 550 different types of petrochemical products, he said that each one of these products helps the development of a part of the Iranian industry.

He expected that Iran’s petrochemical output will reach 100 million metric tons (mt) by the end of the current calendar year to March 2025.

Shahmirzaei had earlier said NPC is planning to complete 13 new petrochemical projects by the end of the current Iranian calendar year.

“One of the strategies of the petrochemical industry in the year "production leap with people's participation" is to put 12 new petrochemical projects into operation by the end of [the current Iranian calendar]1403 and use all available capacities,” the official said.

He stated that the completion of 12 petrochemical projects by the end of this year will have a significant impact on the growth of production and economic development of the country.

The NPC head had previously put the country’s petrochemical production capacity at over 92 million tons, and said: “Today we are almost self-sufficient in the main petrochemical sectors including products and equipment.”

Iran's petrochemical industry accounts for 28 percent of the region's petrochemical capacity and 2.7 percent of the world's petrochemical capacity, he announced.

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as petrochemical export is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

According to Shahmirzaei, the company plans to increase its annual petrochemical production capacity to 200 million tons over the next 10 years.

EF/MA