(Persia Digest) – The Petrochemical Commercial Company of Iran Managing Director has announced: “The structures set up for the petrochemical Industry during the sanctions have been preserved. Therefore, the US withdrawal from the JCPOA and a probable return to reimposing certain sanctions will not create problems in this sector.”
Speaking about the US withdrawal from the JCPOA and its impact on the export of petrochemical products from Iran, Mahdi Sharifi-Niknafas stated: “We will not encounter any problems with the structures we have set up over the past twenty years in this sector.”
He reminded: “Following implementation of the JCPOA, problems such as banking issues were not completely resolved, so an exit by the United States will not have a great impact.”
About the possible return of sanctions on shipping lines and insurance of petrochemical shipments by foreign companies, he said: “We had these problems prior to this. Domestic insurance companies set up a consortium and solved it.”
From 2013 to date, the number of petrochemical units have risen from 43 to 53 – without taking into account two ancillary services complexes – increasing production capacities from 59.8 million tons to 64.9 million tons.
Forecasts for the last year of the sixth development plan put capacity figures at 1172 million tons in the country, the production of various petrochemical products at 152.8 million tons, and sales figures at 98.7 million tons worth USD 54BN.
Iran is the second largest petrochemicals producer in the Middle East with a share of 23.6 percent of the overall productions in the region. Iranian petrochemical complexes exported over 22 million and 410 tons of products worth over USD 12BN last year.