Iran proposes setting up petrochemicals exporting forum

Monday, Feb 11, 2013

Islamic Republic of Iran has proposed setting up a petrochemical exporting forum and is involved in talking with several countries including a number of neighboring countries on the issue.

Speaking to Shana, managing director of National Petrochemical Company (NPC), Abdolhosain Bayat made the remarks adding setting up a petrochemicals exporting forum similar to OPEC and GECF will provide data on petrochemicals’ demand and supply in a world scale as well as will enable the exporting countries for planning and pricing in order to control consumption markets.

He continued Islamic Republic of Iran as a leading producer of petrochemicals in the Middle East was ready to pave the way for formation of a petrochemicals exporting forum through cooperation and understanding with other big producers of petrochemical products in the region and across the globe.

With 57 million tons of installed capacity, Iran’s petrochemical sector is moving toward its targets, with a proper speed, on reaching 100 million tons of installed capacity, which is hoped to gain momentum through banks and investors’ cooperation on funding the projects’, Bayat said.

He pointed out that a huge development will occur in the country at the end of current administration tenure in summer via completion and startup of Mehr Mandegar (Lasting Kindness) projects, which not only will meet domestic needs but also will enable the country to export various petrochemical products.

The process of exploitation from petrochemical development plans will continue in coming months especially those Mehr Mandegar projects that are under way in west of the country through meeting their needs to equipment and finance, NPC’s top executive concluded.

Source: Islamic Republic of Iran