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Value of Iran's petrochemicals to hit 26 billion dollars

Tehran, Aug 8, IRNA -- The monetary value of Iran's petrochemical products will reach some 26 billion dollars within the next ten years, including dlrs 20 billion worth of saleable commodities.

According to the Persian-language daily 'Abrar-e Eqtesadi`, attracting financial resources, increasing the share of foreign and domestic private companies in the whole ownership of petrochemical industry and enhancing the share of private sector by some 50 percent are among programs predicted in petrochemical fields in the next 10 years.

According to the 10-year program, including the fourth and fifth economic development plans, 12 million tons of ethylene, 10 million tons of polymers, 8.5 million tons of urea, 7.5 million tons of methanol and 4 million tons of aromatic are expected to be produced.

National Iranian Oil Company and National Iranian Gas Company will support the projects to be implemented by the Iranian calendar year of 1394 (2015) by producing 10 million tons of ethane annually, 183 million cubic meters of natural gas, 315,000 barrels of liquefied gas and 400,000 barrels of gas condensates.

The Third Five-Year Economic Development Plan envisioned measures to promote the petrochemical industry which will play a role in promoting the country's non-oil export.

National Petrochemical Company will produce 22.5 million tons of various petrochemical products by the end of current Iranian calendar year (March 20, 2005) which would be the final year of the Third Economic Development Plan.

The volume of petrochemical products stood at only 11 million tons until the end of the Second Economic Development Plan.

The share of petrochemical products in the country's total non-oil exports will reach 23.1 percent this year, while the share of petrochemical products in export of industrial goods will stand at 67 percent once all projects of the Third Plan become operational.

The share of Iran's National Petrochemical Company in gross domestic product (GDP) will amount to 2.1 percent by the end of the current calendar year.

... Payvand News - 8/8/04 ... --

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