Iran to Commence Five Petrochemical Facilities by March, 2017

Iran to expand its petrochemical capacity by adding up five new petrochemical projects by the end of march 2017

Iran: Iran is expected to commence five new petrochemical projects by March this year. The second phase of Kavian Petrochemical Complex, which would produce 1 million metric tons of ethylene per annum and the second phase of Morvarid Petrochemical complex, which would produce ethylene and Ethylene Glycol (EG), will be operational by the mid of February in 2017. Similarly, The Takhte Jamshid and Entekhab Petrochemical Complexes, which would produce 0.25 million metric tons per annum of styrene derivatives, will also be operational before March 2017. Second phase of Pardis Petrochemical, which specialises in production of ammonia & urea, is also expected to be completed by end of March 2017. Additionally, Bushehr Petrochemical complex, which produces 1.64 million metric tons of methanol,1 million metric tons of olefins per annum, 0.55 million metric tons of ethylene glycol per annum, 0.3 million metric tons of light and heavy polymers per annum and 0.3 million metric tons of acetic acid per annum, is also expected to start three units which are expected to be operational by next year. The Marjan methanol plant is also expected to commence next year.

TechSci Research depicts that start-up of petrochemical projects are expected to positively influence the petrochemical industry of Iran which would further lead to reduction of exports in the country. Additionally, this would further help the country to enhance their industrial base as well as economic growth.   

According to the recently published report by TechSci Research, “Iran Oil Refinery Chemicals Market By Type, By Application, Competition Forecast and Opportunities, 2011 – 2021”, the oil refinery chemicals market in Iran is projected to grow at a CAGR of 5% during the next five years. Growth in the market is anticipated on account of increasing oil and gas refining capacity in the country. Additionally, stringent government regulations for lowering the sulphur content of transportation fuels coupled with implementation of Euro-4 and Euro-5 standards in Iran is anticipated to positively influence the oil refinery chemicals market during 2016-2021.