Iran’s petrochemical income rises 80%

Tehran, Aug 3, IRNA – CEO of Iran’s National Petrochemical Company (NPC) Behzad Mohammadi said on Monday that the revenue has increased by 80% in the new Iranian year (started March 20). Some 17 new plans have opened, which has led to 60% increase in output capacities of petrochemical plants, said Behzad Mohammadi on a visit to IRNA, on the verge of Iran’s National Reporter's Day, August 7. Mohammadi made the remarks in a meeting with IRNA chief Mohammad-Reza Noruzpour. Mohammadi said that petrochemical industry is the biggest industry in Iran and, alongside the steel industry, it the most lucrative industries for the country. He said that the petrochemical industry is still growing, adding that the revenues will be guaranteed with producing high-quality products, like propylene. He added that Iran produces 950,000 tons of propylene a year and there is currently a shortage of 200,000 tons. Only 5% of Iran’s petrochemical productions is propylene. It is 17% in Saudi Arabia, 18% in the US, and 16% in the whole world. With implementing projects in Iran, the figure will reach 10% in the next four years, he said.