Iran has floated a proposal to constitute a forum of petrochemical exporting countries, and the Iranian Government is now pursuing talks on the issue with several nations, including neighbouring countries, National Petrochemical Company (NPC) Managing Director Abdolhosain Bayat told Shana News Agency.
Mr. Bayat said, being one of the Middle East’s leading petrochemical producing countries, Iran is all set to lead the way for setting up of such a forum, in collaboration with other major petrochemical producers in the region as well as across the globe.
Formation of a forum similar to the Organization of Petroleum Exporting Countries (OPEC) and Gas Exporting Countries Forum (GECF) would facilitate availability of data on demand and supply of petrochemicals worldwide, which would help the exporting nations in planning and pricing of their export products in lines with the demand to better govern the consumption markets, he said.
Having an installed capacity of 57 million tons, the petrochemical industry of Iran is projecting its growth to 100 million tons. Financial support from banks and investors to back the petrochemical projects would help the country achieve the 100 million ton capacity at an accelerated speed, Mr. Bayat said.
He added that Iran would witness large-scale development due to launch of Mehr Mandegar (Lasting Kindness) projects in the western part of the country, which would cater not just to the domestic requirements, but would also allow the country to export various petrochemical products.
