Increasing petrochemical cooperation between Iran and Africa

According to Energy Press, citing the National Petrochemical Industries Company, Hassan Abbaszadeh stated today (Sunday, May 27) at the third Iran-Africa Cooperation Summit, explaining the achievements and capacities of this pioneering industry: The country’s petrochemical production capacity has reached 97 million tons per year and with the implementation of 67 new projects, it will increase to 131 million tons by 2029.
He stated: Currently, 73 petrochemical complexes and three power generation and utility complexes are operating in the country, and two large petrochemical hubs have been established in Assaluyeh and Mahshahr, and other petrochemical companies have been established in different provinces.
Development projects and investment in petrochemicals
The Deputy Minister of Oil stated that Iran’s petrochemical products are classified into different groups and stated: The capacity of polymers is 9 million tons, aromatics 4 million tons, chemical and agricultural fertilizers 9 million tons, and basic chemicals 43 million tons. Of this amount, about 14 million tons of methanol are produced, of which 10 million tons are exported to global markets.
Abbaszadeh stated that 67 major petrochemical projects are currently under implementation, with an average physical progress of about 40 percent, and said: These projects will be put into operation in the next four years, and the country’s petrochemical production capacity will increase from 97 million tons to 131 million tons.
He added: The investment value in these projects is $26 billion, of which about half of this capital has been spent so far.
Significant growth in polymer production by 2034
The Deputy Minister of Oil, noting that the growth trend in petrochemical production has been determined until 2034, added: “The largest growth is in the polymer sector, such that the polymer production capacity will increase from 9 million tons to about 32 million tons. This increase in capacity will be carried out through new projects and with the aim of improving added value.”