Iran eyes $50b petrochemical revenue by 2027

Tehran (IP) - The CEO of the production capacity said that plans are underway to bring the country’s petrochemical annual revenues to 50 billion dollars by 2027.

Iran PressIran news: Referring to the definition of the fourth leap of the petrochemical industry with 47 projects, Behzad Mohammadi said: "By completing the second leap, third leap and implementing strategic plans in the fourth step of intelligent development of the petrochemical industry, $50 billion in petrochemical revenue will be achieved by 2027.”

According to NPC, addressing a ceremony to unveil several achievements of the NPC, Behzad Mohammadi said on Monday that BY 2025, several projects would come online in the industry, which will bring feedstock consumption of the industry to an equivalent of 2.3 million barrels per day.

According to Shana news, Mohammadi said that Iran’s petrochemical industry is more proud, more dynamic, and stronger than ever in the field of sustainable production and supply of feedstock for downstream industries, exports, and hard currency generation, adding in the calendar year of 1399, which ended on March 20, roughly 40 million tons of feedstock was consumed by the industry, an equivalent of 1 mbd of crude oil, worth $6b that was fed to 67 petrochemical plants across the country.

He said the figure was expected to reach an equivalent of 2.3 mbd by 2025, once new projects come online in the industry.

"Last year Iran added 25 million tons to its annual petrochemical production capacity," he said, adding that the industry also supplied 34 sellable products during the same year, which generated $15 billion.


Read More: 

Iran's Petchem annual revenues reach $10B

Iran to enjoy 6.2 percent share in global petrochemical production