Publishe Date: 6:37 PM - 4/23/2014 | Print

Iran Planning to Export More Petrochemicals to African States

Economy - The National Iranian Petrochemical Company (NIPC) voiced readiness to enter new markets around the world, stressing that export of more petrochemical products to the black continent stands atop the new agenda of the company.

The NIPC, which had cited China, India, Southeast Asian countries and the Far East as main markets of its products, has recently found markets in African continent.

African countries have so far imported Iranian petrochemical products after lifting the ban on the import of these products by the EU countries.

In addition to China and India, Bangladesh, Sri Lanka, Pakistan, and Iraq, and in some occasions, Armenia and Malaysia also imported Iranian products especially urea and ammonia fertilizers. Last year, Tanzania and Mozambique joined the bandwagon of countries importing Iran’s products.

For instance, Head of Marketing Office of Khorassan Petrochemical Complex Ali Asqar Khazayee said that the melamine cargo of Iran’s Northwestern petrochemical complex had been exported to new markets in Africa.

On Tuesday, an Iranian deputy oil minister said Iran is resolved to increase its revenues from exporting petrochemicals, and announced that four new petrochemical plants are scheduled to go into operation in the current Iranian year calendar (started March21).

Iranian Deputy Oil Minister for Petrochemical Affairs Abbas She’ri Moqaddam said that the completion and construction of development projects are among the main priorities of the NIPC, and therefore four petrochemical plants will come on stream this year.

He further stated that the second phase of Kavian Petrochemical Complex in Iran’s Southern province of Bushehr, as well as petrochemical complexes of Lorestan, Kordestan and Mahabad will be operational by the end of the current Iranian calendar year.

Earlier this month, Director for Planning and Development Department of the NIPC Hossein Shahriyari told reporters that Iran plans to increase its petrochemical exports considerably in the current Iranian year as sanctions against the Islamic Republic are eased in the wake of an interim nuclear deal between Tehran and the Group 5+1 (the US, Russia, China, France and Britain plus Germany).

"Iran will increase the value of its petrochemical exports to the level of $12 billion," Shahriyari said.

He reiterated that Iran’s petrochemical sector enjoys ample opportunities that could be seized once the capital necessary for its development projects are provided.

“In recent years, the domestic sales of petrochemical products have increased considerably, and with the implementation of the new development projects, the petrochemicals production capacity will rise significantly,” Shahriyari said.

Iran has trade transactions with over 105 world countries.

Last year, former Iranian Economy Minister Seyed Shamseddin Hosseini said that Iran’s non-oil exports witnessed an eye-catching growth in the last Iranian year (ended March 20, 2013) despite the sanctions and restrictions imposed by the West on Tehran.

“The value of the country’s non-oil goods exported last year hit $41.3bln,” the Iranian economy minister said, addressing a conference on monetary policy of global economy.

He noted that the figure shows an increase as compared with last year due to growth in tourism sector and exports of agricultural and mineral products.

“The non-oil export deficit reduced to $12.3bln last year from the previous figure of $18bln,” Hosseini said.
 

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