Iran Expects Petrochemical Revenues of $14 Billion by end of March 2022

Iran Expects Petrochemical Revenues of $14 Billion by end of March 2022

The Deputy Minister of Petroleum for Petrochemical Products Morteza Shahmirzaei announced that Iran has received revenues of $12.5 billion from petrochemical exports by the end of the current calendar year which started on March 2021 expecting to reach $14 billion at the end of the year

He noted that the Iran’s petrochemical exports capacity was about 3 million tons in 1979 when it was operating seven complexes only, but currently the country has 68 petrochemical complexes.

Shahmirzaei stated that his country will produce 65 million tons of petrochemical products by the end of the current calendar year starting on March 2021, including 25 million tons to be consumed locally and the remining will be exported with expected revenues of $14 billion.

The deputy minister also announced the inauguration of Ibn Sina petrochemical project soon by end of the year, with $12.5 billion of foreign exchange will be offered to the Nima system.

 

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