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Iran's production of petrochemicals to reach $3.5B in 2004


Iran's total value of petrochemical products will reach as high as 3.5 billion dollars in the next Iranian calendar year of 1383 (starting March 19, 2004) most of which will be exported, the press quoted an oil official on Monday, IRNA reported from Tehran.

The Persian-language 'Tosse'eh' quoted Mohammad Ehtiati, the director general of the Petrochemicals Commercial Company of Iran, as saying that Iran exported petrochemicals in 1381 (ended March 21) worth 950 million dollars, adding that the figure will hit three billion dollars in 1383.

Ehtiati added that Iran's production of petrochemicals had surpassed five million tons worth 1.2 billion dollars over the past six months, stressing that 600 million dollars worth of those products had been exported.

He also said that the exports of petrochemicals are expected to exceed nine million tons valued at some 2.3 billion dollars by next March, adding that the total export value will accordingly increase to 1.2 billion dollars.

Ehtiati further added that Iran has contracted a large quantity of petrochemicals in presale contracts to overseas customers, and that the deals had been based on the market price of the day. He said Iran's petrochemicals are exported to over 400 companies from 60 countries, adding that most of those products are exported to the Far Eastern states.

Ehtiati said that 32 percent of Iran's petrochemicals are exported to the Far Eastern countries, 21 percent to China, 13.2 percent to India, 11 percent to the Middle East, 10.5 percent to the Southeastern states, 2.9 percent to Central Asia and two percent to Europe.

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