Skip to content Skip to Search
Skip navigation

Iran’s petrochemical capacity to double in next decade: Official

By Pramod Kumar
IRNA
Petrochemical production capacity in the country will witness 200 million tons in a year in the next decade.

National Iranian Petrochemical Company (NIPC) expects petrochemical production in the country will double in the next decade, IRNA, state-owned news agency, reported.

Petrochemical production capacity in the country will reach 200 million tons in a year in the next decade, said NIPC managing director Morteza Shah-Mirzaei.

Despite sanctions imposeed on the country, the petrochemical industry is growing at high speed, he said.

The official, who is also the deputy petroleum minister, said all petrochemical products would be manufactured in the country within the next ten years.

Shah-Mirzaei stated that Iran’s petrochemical industry was one of the “most secure industries in the world.”

Iran was the third-largest producer in OPEC before the US resumed sanctions on the country in 2018. 

Latest articles

A customer paying with a credit card inside the Black Friday Market in Beirut. Lebanon wants more people to move away from cash

Lebanon launches plan to promote use of bank cards

Lebanese central bank Banque du Liban announced a new agreement on Thursday that it hopes will result in a rebound in the use of bank cards. As part of the agreement, Mastercard and Visa will lower card fees on transactions, particularly for people with bank accounts based outside Lebanon. In a press release, the bank […]

Construction work in Kuwait. Nurseries, schools and shops are being built for the new residential district of Al Metlaa

Kuwait signs $140m contracts for Al Metlaa development

Kuwait’s Public Authority for Housing Welfare (PAHW) has signed two contracts worth KD42 million ($140 million) to construct public buildings in Al Metlaa, a new residential district north of Kuwait City. Nurseries, stores, schools and shops will be included, state news agency Kuna reported. Electricity connections have been provided for 109 buildings in the district, […]

Workers at Cano Limon oil field in eastern Colombia. Oil is one of the country's largest exports

UAE strikes Colombia deal to strengthen Latin American links

The UAE has strengthened trade relations with Latin America after signing a comprehensive economic partnership agreement with Colombia, just days after a Cepa deal was struck with Costa Rica. Officials from the UAE and Colombia put pen to paper on an agreement that will cut tariffs and remove trade barriers between the two countries. UAE […]

Alstom's upgraded passenger transit system will help reduce emissions at King Abdulaziz International Airport

Alstom to upgrade driverless transit system at Jeddah airport

French train maker Alstom will upgrade the automated and driverless passenger transit system at King Abdulaziz International Airport, as the Jeddah airport aims to receive 114 million passengers by 2030. As part of the contract, Alstom will design, engineer, supply, integrate, test and commission a complete system upgrade of its Innovia automated people mover (APM) at the airport’s terminal […]