Iran’s export of petrochemicals hits $4.3bn in six months

October 22, 2016 9:00 pm

A view of the Mahshahr petrochemical plant in the southwestern Iranian province of Khuzestan

has exported some 4.3 billion dollars worth of petrochemicals during the first six months of the current Iranian calendar year, which started on March 20.
The country sold more than 10 million tonnes of a variety of petrochemicals at Asian markets mainly in the aforementioned period.
The installed capacity of Iran’s petrochemical industry has reached some 63 million tonnes and is projected to stand at 130 million tonnes by 2020.
According to Iran’s Ministry of Petroleum, the country produced 24.958 million tonnes of petrochemicals in the same period.
Iran exported more than 1.513 million tonnes of a variety of petrochemicals worth at 585.6 million dollars only in the Persian calendar month of Shahrivar (August 22-September 21.)
The figure points to a growing trend in the exports following the implementation of last year’s nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), and easing of sanctions as well as banking restrictions.
On January 16, Iran and the five permanent members of the United Nations Security Council – the United States, Britain, France, China and Russia – plus Germany started implementing the JCPOA, which they had clinched on July 14, 2015.
Under the nuclear agreement, Iran agreed to limit its nuclear program in return for the termination of all nuclear-related sanctions against the Islamic Republic.
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