IRANPLAST 2021 hosts Intl. petrochemical firms
Yusef Jalali
Press TV, Tehran
The Iranian capital Tehran is hosting the 14th International Exhibition of Plastics, Rubber, Machinery and Equipment. The exhibit seeks to introduce the latest petrochemical products manufactured by Iranian and international firms.
IRANPLAST is finally back on track after months of delay caused by the coronavirus pandemic.
More than 200 domestic and 250 foreign companies are attending the international exhibition where plastics, rubber, machinery and related equipment are on display. The exposition is held annually with the aim of linking the petrochemical industry and enterprises.
Due to the pandemic, only managers, businessmen and experts are allowed to participate and visit the expo. The distinctive feature of this year’s edition is an online exhibition, which is held concurrently with the physical exhibit. Some 22,000 visitors have so far visited the event virtually.
With an economy tied to crude revenues, Iran has long been exploring an alternative to shield its economy from oil market instability, with the petrochemical industry being a top candidate.
Currently, Iran manufactures less than 40 million tons of petrochemical products. The country plans to ramp up its output to 133 million tons a year by 2022, raising its annual revenue to 33 billion dollars.
Iran's petrochemical exports have been restricted under the US sanctions. Iranian officials say this has been a chance to use raw material inside the country to produce products with higher added value. This also fits with Tehran's view of the petrochemical industry as one of the major escape routes from an oil based economy.
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