30 September 2014 - 14:32
  • News ID: 225946
Iran Polymers on Equal Footing with Europe, US Products

TEHRAN Sept 30 (Shana)--A senior Iranian lawmaker has said that the polymers produced in Iran are at the same level of standards as the American and European products.

Moayed Sadr Hosseini, head of the Petrochemical Subcommittee of the Industry and Mining Committee of Iran’s Majlis, said investors financing petrochemical projects will see the return of their capital in three years.
“Some petrochemical products like methanol and polyethylene are abundant in Iran. Some 70 percent of them is exported,” he said, adding that the country is running short of propylene.
The MP said Iran’s annual petrochemical production capacity stands at 60 million tons. He added that Iran should raise its petrochemical production to 110 million tons to get the top spot in the Middle East.  
He said Iran needs to invest $12 billion on average every year in the petrochemical sector.
Hosseini said Iran is currently producing 3 million tons of plastics, adding that the production could be raised to 10 million tons.
The MP also said that Afghanistan, Turkey and Iraq are good markets for Iran’s polymer and plastic industries. 
News ID 225946

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