Iran petrochemical trade to grow in 2013 – NPC president

13 May 2013 16:37  [Source: ICIS news]

TEHRAN (ICIS)--Iranian petrochemical trade is expected to grow in 2013, the president of the country's state-owned National Petrochemical Company (NPC) said on Monday.

The country’s petrochemical export volumes are forecast to increase by 6% year on year in 2013, NPC president Abdolhossein Bayat said, speaking to delegates at the 10th Iran Petrochemical Forum.

Bayat was also optimistic about an improvement in export demand in 2013, as the global economy is expected to grow this year.

“Last year Iran exported 15.5m tonnes, valued at $11.6bn [€8.9bn],” Bayat said. “One of the priorities of Iran's trade policy is optimal exploitation of resources."

By the end of the country’s sixth Five-Year Plan in 2020, Iran is expected to account for 41% of Middle Eastern petrochemical production capacity, Bayat said.

“Iran's development plan 2020 aims at getting Iran to occupy first place in the Middle East in terms of petrochemical production value,” he added.

Total petrochemical production capacity in Iran is expected to increase to 100m tonnes/year by the end of Iran's fifth Five-Year Plan period, which runs from 2011-2015 – up from 60m tonnes/year in 2012, Bayat said.

This will be accomplished by setting up 30 petrochemical plants, developed in three phases.

The Iran Petrochemical Forum is being held in Tehran, Iran, on 13-14 May.

Additional reporting by Chow Bee Lin

($1 = €0.77)

By: Prema Viswanathan
+65 6780 4359

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