Iran to Set up 47 Petrochemical Complexes by 2015

TEHRAN (FNA)- Some 47 petrochemical complexes will be established across the country by the end of the Fifth Five-Year Economic Development Plan in 2015

Iran’s Deputy Oil Minister Gholam Hossein Nejabat also said that once the projects come on stream, the volume of domestically-produced petrochemical products will reach 43 million tons.

He anticipated that some dlrs 32 billion would be invested in this respect.

“Once the projects become operational, the Islamic Republic of Iran will produce over 5.3 percent of the world’s total output,” he said, adding Iran would produce 36 percent of the Middle East’s total petrochemical products.

“The Oil Ministry has set targets for annual production of 11.5 million tons of ethylene, 11.5 million tons of polymer and 3.4 million tons of urea,” he stated.

Nejabat said that Iran will make efforts to become the greatest producer of methanol in the world.