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Thu Feb 28, 2013 10:51AM
A file photo showing installations at an Iranian petrochemical facility

A file photo showing installations at an Iranian petrochemical facility

The managing director of National Iranian Petrochemical Company (NIPC) has announced Iran’s plans to establish three new petrochemical hubs in the near future, saying the projects will turn Iran into the biggest petrochemicals producer in the Middle East. Abdolhossein Bayat said on Tuesday that the new hubs will be set up in the southeastern port city of Chabahar, southern port city of Assaluyeh and Lavan island in the Persian Gulf. On Monday, Managing Director of the National Iranian Offshore Oil Company (NIOOC) Mahmoud Zirakchianzadeh said that Iran plans to establish three energy hubs in the Persian Gulf islands of Lavan, Qeshm and Siri. He said that Lavan and Siri will respectively become Iran’s petrochemical and gas exports hubs, while Qeshm has been designated as a hub for generating electricity from gas. Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and the NIPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia. The Islamic Republic exported a total of 18.2 million tons of petrochemical and polymer products, worth about USD 14.2 billion, to more than 60 countries in the previous Iranian calendar year (ended March 19, 2012). Last June, Bayat said that the European markets accounted for the biggest number of countries importing Iran's products, while India and China imported the highest volume of the Iranian petrochemical products. Iran's petrochemical products mostly include ethylene, methanol, urea, polyethylene and polyolefin, Bayat said. YH/HMV
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