Petrochem accounts for 19% of national added value: NPC
Iran’s petrochemical industry, while consuming at most 8% of the country's hydrocarbon resources, accounts for 19% of the industrial sector's added value, said the investment manager of the National Petrochemical Company (NPC).
Hamidreza Ajami emphasized the necessity of developing complementary industries to complete the petrochemical value chain, stating, “The petrochemical industry accounts for 19% of the industrial sector's value-added," IRNA reported.
"Despite accounting for only 25% of the country's export share, this industry has managed to supply half of the country's foreign exchange needs in recent years," Ajami said.
Stressing the imperative of developing complementary industries to complete this industry's value chain, he added, "Without financing and attracting investment, realizing development projects will not be feasible, and the path for developing petrochemical industries and downstream chains must be smoothed through facilitation and support from governing bodies and related institutions."
According to the deputy head of the National Development Fund's executive board, "An amount of $200 million will be allocated to finance at least 20 complementary projects of petrochemical industry."
Referring to future plans in the petrochemical sector, Mostafa Seyyed Hashemi stated on Friday, "Based on what is foreseen in the Seventh Development Plan, annual petrochemical production should increase by 40%, from 96 million tons to over 130 million tons. This leap requires two main components: first, supplying feedstock, and second, financing – in this path, the Fund is ready to cooperate."
Meanwhile, the investment manager of the NPC, also said, "Currently, 75 petrochemical complexes are active in the country, with a production capacity exceeding 96 million tons per year. Of this amount, about 46 million tons are produced in the Asaluyeh region, about 25 million tons in Mahshahr, and the rest in complexes located in other parts of the country."
Ajami added, "The mixed product of these complexes is categorized based on product type, exports, and domestic sales. A major portion of the output from these complexes is sold for export, while another portion is sold to meet domestic needs, and the average annual export revenue of the petrochemical industry in past years has been around $13 billion."