Iran's NPC plans overseas offices to boost Asian exports

26-Feb-05

Asia is projected to remain the top destination for Iran’s petrochemical exports in the next 10 years. In a bid to boost Asian markets that account for almost 75% of Iran’s petrochemical exports, the National Petrochemical Company (NPC) plans to set up representative offices in Pakistan and Turkey. Upon completion of new production capacities, exports of petrochemicals to Europe would be possible that Iran's petrochemical exports will reach US$1.8 bln by March 2005, and petrochemical production capacity will reach 15 mln tons by March 2006. Plans are underway to get the domestic market more structured. Currently, petrochemical products are marketed at 5 different rates in domestic markets creating a black market and inflicting losses to the petrochemical industry.