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Iran will launch 42 petrochemical projects by the end of next year

March 30/2020

MOSCOW (MRC) - Iran's petrochemical products will reach 100 million tons by the end of 2021, Oilcapital reports citing a message from the managing director of the investment department of the National Petrochemical Company of Iran Hossein Alimorad.

He noted that by this time the growth in production capacity of petrochemical companies will be 80%. "In Irans petrochemical industry, a significant leap will take place by 2021, and 42 petrochemical projects will be launched during this period," he stressed.

The volume of Irans petrochemical industry in 2013, Alimorad noted, was only about 56 million tons, and in 2017 - 64 million tons. The total cost of production in the petrochemical industry in 2013 amounted to USD16 billion, and in 2017 this figure reached USD17 billion.

According to Alimorad, by 2021, the volume of production in Iran in the petrochemical industry will reach USD25 billion.

Iran's petrochemical industry needs financing in the amount of USD23 billion, of which USD8 billion was provided, and the remaining USD15 billion will be provided through the capital market, Alimorad quoted.

Earlier it was reported that the volume of production of chemical and petrochemical products in Iran grew by 1.9% in ten months of the current 1398 Iranian year (from March 21 to January 20). Statistics showed that from March 8, 2019 to January 20, 2020, 45.8 million tons of petrochemical products were produced, which is 1.9% more compared to the same period last year. During this period, the production of polystyrene (PS) decreased by 60%, and the production of polycarbonate (PC) and epoxy - by 48.8 and 11.9%, respectively. Meanwhile, the production of rubber, styrene, butadiene, polypropylene (PP) and polyethylene (PE) showed an increase of 19, 9.5 and 8.7%.

Ethylene and propylene are the main raw materials for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to ScanPlast of MRC, in 2019 the estimated PE consumption in Russia amounted to 2,093.26 thousand tons, which is 6% more than the same indicator a year earlier. Deliveries of all types of polyethylene increased. PE supplies increased both from domestic manufacturers and from external suppliers. According to the results of 2019, the estimated PP consumption in the Russian market amounted to 1,260.4 thousand tons, which is 4% more than in 2018. The supply of almost all types of propylene polymers increased, except for the propylene random copolymers (PP-random).
Author:Anna Larionova
Tags:petroleum products, crude oil, petrochemistry, Iran.
Category:General News
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