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ChemOrbis Gaziantep Petrochemicals Summit: Iran readying to add new capacities by 2020

by ChemOrbis Editorial Team - content@chemorbis.com
  • 27/04/2017 (16:00)
Peyman Hashemi, Senior Petrochemical Market Analyst of Persian Gulf Petrochemical Industry Commercial Co. (PGPICC) stated during his presentation at the ChemOrbis Petrochemicals Summit in Gaziantep on April 27, 2017 that Iran’s petrochemical industry is readying to add new capacities by 2020 with the aim of improving its trading activities following the easing of sanctions.

During his speech, Hashemi noted that Iran’s crude oil production increased, new financing opportunities occurred and these positive developments led Iranian companies to enjoy strategic partnerships all around the world after the sanctions were lifted last year.

Hashemi reported that Iran is planning to increase its total petrochemical production capacity by around 1 million tons/year to 61 million tons/year by 2020 with more than 15 projects currently in progress.

According to him, Iran is expected to increase its ethylene production capacity by around 6 million tons/year to almost 13 million tons/year over the next four years while the country’s current propylene production capacity of 1.5 million tons/year is also planned to be increased to 2.6 million tons/year.

As for the polyolefins, the country is planning to increase its current production capacity by around 3.5 million tons/year for PE to around 7 million tons/year and by 750,000 tons/year for PP to 1.7 million tons/year following the start up of new capacities.
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