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Today is Tuesday - Frebuary/25/2020
Iran four-month petchem output up 41% year-on-year


Iran four-month petchem output up 41% year-on-year

Iran's petrochemical output in the four 4 months from March 20 this year rose by 41 percent against the figure for the same period last year, said deputy minister of Industry, Mine and Trade.



Mohsen Salehinia said that the rise in the production of petrochemicals and higher exports indicate that the industry is climbing out of recession.
"After the Joint Comprehensive Plan of Action (JCPOA), economic growth, and greater oil, gas and petrochemical production are evident," the official noted.
He said small- and mid-sized enterprises have received state facilities to enhance production and the industrial sector is expected to be revived by March 20, 2017.


MoU with Pertamina

Meanwhile on Tuesday, Iran's Petrochemical Commercial Company (PCC) signed a memorandum of understanding (MoU) with Indonesia's state-run Pertamina on petrochemical cooperation.
PCC officials met Pertamina executives in Tehran to ink the cooperation deal and discuss petrochemical cooperation.
During the meeting, the Indonesian side announced willingness to directly import liquefied petroleum gas (LPG), gas condensate and bitumen from PCC.
In return, PCC indicated interest in buying aromatics from Pertamina.
An executive team made up of representatives from the two companies will be formed for planning ways to enhance commercial activities between the two firms and implement the agreements reached by them.