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News number: 9107169040

17:11 | 2013-05-11

Economy

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Official: Iran to Produce 38% of Middle-East's Petrochemical Products by 2015

TEHRAN (FNA)- Iranian petrochemical plants will have a 38 percent share of the Middle-East's petrochemical production in less than two years, a senior trade official announced.



"Iran will have a share of 38 percent in the Middle East's petrochemical output by 2015 marking the end of the Fifth Five-Year Economic Development Plan (March 2010-March 2015)," Director of the Planning and Development Department of the National Petrochemical Company (NPC) Ramazan Ouladi said on Saturday.

He noted that Iran has currently a share of 25 percent in production of the Middle East's petrochemical products.

Ouladi said that last year, Iranian petrochemical facilities produced 41 million tons of petrochemical products of which 15.8 million tons were exported and 12.2 million tons were sold on domestic markets.

The official said the installed capacity of the petrochemical facilities last year rose to 57.1 million tons and the share of petrochemical products in export of industrial products stood at 47 percent.

Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

Iran exports petrochemical products to more than 60 countries. The main destinations include the Far East, Central Asia, Southeast Asia and Africa.