Jun 22, 2024 01:56

Petchem Industries Bracing to Grab Bigger Shares in Global Markets

Petchem Industries Bracing to Grab Bigger Shares in Global Markets
Iranian petrochemical plants are keen on building up their presence in international markets in the current calendar year (started March 20), as several major petrochemical plants are planned to come on-stream before mid-2017, a senior petrochemical official said.

Speaking with NIPNA, Director General of the Association of Petrochemical Industry Corporations (APIC) Ahmad Mahdavi said petrochemical plants are stepping up completion of unfinished projects in a push to bolster their presence in international markets.

He said Iran earned $14b from export of petrochemicals over the course of the previous Iranian calendar year, adding efforts are underway for boosting the number in the current year.

Iranian petrochemical plants processed 46 million tons of products last year, but are aiming to bring the number to over 50 million metric tons in the current calendar year.

Mahdavi said China, India, Africa, central Asia and Turkey make up the biggest markets for Iranian petrochemical producers, adding, "The removal of sanctions has opened up European markets to Iranian exporters and some Iranian cargoes are being exported to the green continent."

He further said that government support is needed for ensuring foreign investments in the country's petrochemical sector, adding talks are currently underway for ensuring such support.

Jun 26, 2016 17:38
nipna |
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