Publishe Date: 7:20 PM - 7/23/2014 | Print

Iran Increases Petrochemical Exports by 6 Percent in 3 Months

Economy - Iran has considerably increased its petrochemical exports as sanctions against the Islamic Republic have been eased in the wake of progress in talks between Tehran and the Group 5+1 (the US, Russia, China, France and Britain plus Germany), a senior official announced on Wednesday.

"The production of petrochemical products has increased by 6.5 percent and their exports volume has increased by 6 percent in the first three months of the current Iranian year (March 21-June 21)," Deputy Managing Director of Iran's National Petrochemical Company Mohammad Hassan Peyvandi said on Wednesday.

He noted that more than 40 million tons of various kinds of petrochemicals were produced in the country in the last Iranian year (ended March 20, 2014), USD 9 billion of which was exported during the same period.

In relevant remarks in May, Managing Director of Iran’s National Petrochemical Company (NPC) Abbas Sheri-Moqaddam said 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," Sheri-Moqaddam said.

Iran has trade transactions with over 105 world countries.

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