Lebanon to start petrochemical exports from Iran

According to media reports, Lebanon Chemicals Company SAL (LCC) has started talks with Iran on reviving petrochemical and polymer exports following the lifting of sanctions. Lebanon aims to reach an agreement soon due to the high quality and competitive prices of Iranian products.

Iran is able to produce 60 million tons of petrochemicals per year and its production capacity is expected to rise by 6.2 million tons following the start up of ten new petrochemical projects this year. In the next Iranian year, the country’s production capacity will increase by an additional 9.6 million tons.

Meanwhile, the value of Iran’s petrochemical production will rise by 4.8 billion dollars when the new petrochemical plants start to operate.