The Iranian Minister of Petroleum, Bijan Zangeneh, announced that his country had planned to launch 27 petrochemical projects worth $17 billion by March 21, 2021 expecting petrochemical revenues will compass $25 billion in 2021 and $37 billion in 2024 as well, according to SHANA.

He said, during a ceremony for inaugurating three petrochemical projects worth $1.6 billion, that by the end of the year 13 other projects will be put to operation which will increase the production capacity by $25 million tons per year.

The Minister referred to the important role of the petrochemical companies in the stock market of Iran as it represents 25% of market share saying that the period between 2013 to 2019 witnessed putting 18 projects on stream.

Regarding methanol production, the minister said that the country’s output reached 6.7 million tons by the end of 2019 and it will reach to 17.5 million tons by the end of the second leap and 24 million at the end of the third leap.