Abbas Sheri-Moqaddam, who is head of National Petrochemical Company, said Iran plans to boost its share over the coming five years.
He said that two petrochemical plants are coming on-stream before the end of the current calendar year in March 2015.
“Over the past years, direct [petrochemical] exports to Europe have been halted and therefore our country’s target petrochemical markets have been oriented to Asia, East Asia and the Middle East,” said Sheri-Moqaddam.
Iran produced 40 million tons of petrochemicals in the last calendar year (ended March 20), with $9 billion worth of its products being exported.
The country, which is a major oil exporter, plans to increase its petrochemical exports to $12 billion this year.
The Islamic Republic is determined to become the biggest petrochemical producer in the Middle East.
The country has significantly expanded the range and volume of its petrochemical production over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.
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