Iran Targets Petchems Hike

Iran aims to produce a total 51mn tons of petrochemicals in the Iranian year ending 20 March 2015, according to Hossein Shariyari, deputy head for planning and development at the National Petrochemical Company (NPC). This represents an annual increase of more than 25%, he told the petroleum ministry’s Shana website, from 40mn tons produced in the year ending 20 March 2014.

The company aims to get its petrochemicals expansion back on track after years of economic sanctions and the withdrawal of international firms from Iran’s petrochemicals sector. “Iran’s petrochemical industry is accelerating and it is hoped that with the attraction of fresh investment, the road to development will become smoother than before,” says Mr Shariyari. (CONTINUED - 285 WORDS)