National Iranian Petrochemicals Company (NIPC), essentially into production, sale, distribution and export of chemicals and petrochemicals is expected to see a rise to 27 million tons by March, this year, from the present 18,150,000 tons produced in ten months starting from March, 2007.
Petrochemical production has seen a marvelous and gradual growth over the past few decades. Starting from the Islamic revolution of 1977, Iran saw a growth of 14 percent in its yearly revenues procured by sale of petroleum products and a 10 percent rise in the total volume of production.
However, astoundingly in only a year's time starting from February 2007, NIPC products showed a 36 and 45 percent rise in terms of weight and value respectively. Iran exported 6.48 million tons of petrochemical products from March 21 to December 21, 2007 fetching US $3.84 billions.
Further, 24 petrochemical projects are underway, requiring investments worth $12.5 billions and whose physical progress ranges from 30 to 98 percent.
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