Iran Eyes 100mt/y Petchem Output by 2022

Iran Oil Minister Bijan Zanganeh put the average annual investments in Iran's petrochemical by non-governmental sector in sanctions conditions at US$3 billion. He made these remarks on Thursday in a ceremony inaugurating petrochemical projects. "Without the US sanctions and by using finances, foreign investments and financial resources, investments in Iran’s petchem sector would have been doubled”, Bijan Zanganeh said.

He said that in the 11th and 12th administration 32 petchem project with a capacity of 34 million tons have been commissioned. “Hence petchem capacity has reached more than 90 million tons from 56 million tons", he stated, adding that " Petchem's capacity 38% hike in the recent year is unprecedented in the industry's history".  The minister informed of launching US$17 billion petcem projects so far, announcing total investment in petchem industry on the past 8 years at US$25 billion out which a part has been launched and the remaining projects of the second leap will be inaugurated in the current year or the beginning of the next year.

Iranian Minister of Petroleum Bijan Zangeneh says the country is planning to launch 10 petrochemical projects ( from the second leap in petchem industry) by the end of 1400 (March 2021-22) or beginning of 1401 (Marc h2022-23)  which will bring the country’s annual petrochemical production capacity to 100 million tons.

Zangeneh said construction of 40 petrochemical plants of the third leap is under way which will bring the country’s annual petrochemical production capacity to 133 million ton per year. The average progress of these projects is about 30%.

The Minister of Petroleum announced the start of operations of mixed feed megaprojects in the coming weeks, adding Hormouz plant with a capacity of 5.8 million tons and Aria Oil and Gas with a capacity of 4.8 million tons are among those projects. These plans will come online by 2027. The commissioned projects were Sabalan Petrochemical Plant, Masjed Soleiman Petrochemical Plant and Elixir Helal of Assaluyeh.

In related front, Iran’s President, Speaking on  the inauguration ceremony of these projects, emphasized, "Inauguration  showed well that the Iranian nation is powerful and that sanctions cannot hinder them from Iran's development and progress". He said that it was hard for many to believe in opening 17 huge petrochemical projects in one year, but today this promise has been fulfilled, adding, "The fact that the government was able to make a real surge in production in the petrochemical industry in a golden year and today the petrochemical capacity has surged from 56 million tons to 100 million tons is very valuable". The President called the annual investment of US$3 billion in the petrochemical industry a sign of the efforts of the Ministry of Oil, the private sector and all engineers, workers and those involved in the sector. Pointing out that the Ministry of Oil has been one of the leaders in development in the country since the beginning of the 11th government, the President said, "Before the 11th government, we were importers in sectors such as petrol and diesel and today we are self-sufficient and exporters in these areas". "If it were not for petrochemicals and steel, we would be in a lot of trouble in the economic war," added the President. - Shana, President.ir