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Big Leap Expected in Petrochemical Output

Source: Tehran Times 9/11/2006, Location: Asia

A senior Oil Ministry official said that the country’s total petrochemical production would increase to 21 from 13 million tons once the current projects come on stream. Asghar Ebrahimi-Asl, deputy oil minister for petrochemical affairs, said Zagros, Borzuyeh, Jam, Olefin 9, 10 and Kermanshah petrochemical projects are among major projects to become operational in the near future, ISNA reported.

He said petrochemical output increased by 84 percent in the March-August period, adding that 2010 will mark a turning point in Iran’s hydrocarbon production, as many current oil and gas producers will turn into importers. “Iran and Qatar will top the world’s gas producing countries (in 2010),“ he said, adding that the petrochemical industry must work harder to increase its production capacity to 40 million tons by that time. “We will need to invest $22 billion in the petrochemical industry over the next four years.“

“This year two trillion rials in financial facilities has been earmarked for downstream industries,“ he said.

Ahmadinejad said after self-sufficiency, petrochemical exports would top the industry’s priority list. The project, titled ’Seventh Olefin’, will annually produce 1.1 million tons of ethylene, 300,000 tons of polyethylene, 300,000 tons of polypropylene and other petrochemicals. It was launched in 2000 at Mahshahr Special Petrochemical Economic Zone.

Mahshahr Special Petrochemical Economic Zone, established in 1998 is the hub of the country’s petrochemical industry with a total area of 1,700 hectares.

Nearly seven billion dollars in foreign and domestic investments have so far been made in the zone.

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