Iran announces 15 petrochemical projects to expand domestic production to nearly 80 MMtpy
Morteza Shahmirzaei, head of the National Petrochemical Co. (NPC), in Iran, announced plans to launch 15 petrochemical projects that will increase the country's domestic production to nearly 80 MMtpy.
Iran aims to surpass 100 MMtpy in petrochemical production capacity by early 2025. This goal is part of the country's Production Jump initiative. Shahmirzaei emphasized the industry's commitment to sustainable feedstock provision through upstream investments and urged for domestic petrochemical development.
Iran's petrochemical exports, constituting a significant portion of non-oil revenue, underscore its crucial role in the economy. Looking ahead, plans include increasing annual production capacity to 200 MMt over the next decade, with over 100 projects slated for implementation, representing a $70 Bi in investments.
Additionally, self-sufficiency in petrochemical catalyst production is targeted by the end of the current government's term in August 2025, as affirmed by Oil Minister Javad Oji.
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