Iran Puts into Service 3 Petrochemical Projects Worth $1bn

Iran has inaugurated several major petrochemical projects, taking yet another step toward meeting domestic needs.

Speaking at a ceremony where the projects were put into service, Petroleum Minister Bijan Namdar Zangeneh said the projects come with a price tag of more than $1 billion altogether.

By March 2020, the oil minister said, as many as 19 petrochemical projects worth $11.4 billion will have been put into service.

He added the country’s capacity of petrochemical production will reach 100 million tonnes annually in one year’s time, registering an 80-percent rise compared to eight years ago.

He said the petrochemical products to be produced are estimated to worth $25 billion, in total, per year.

However, the oil minister noted plans are underway to push up output capacity to 133 million tonnes per year in 2025, with products worth $37 billion.

Subscribe
The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

LEAVE A REPLY

Please enter your comment!
Please enter your name here