Iran’s mining and mineral industry companies exported $12.2 billion worth of products in the last Persian year which ended on March 20, government data show.

Iran has received an offer for $2.5 billion of investment in its petrochemical sector from a foreign country, Chief Executive of the National Petrochemical Company (NPC) Morteza Shahmirzaei says.

Iran has strongly condemned new US sanctions on a number of petrochemical companies, saying President Joe Biden continues the failed policy of his predecessor, Donald Trump.

Government estimates show Iran’s production of petrochemicals will reach 140 million tons in 2025.

Industry sources dismiss bans imposed on Iran’s petchem plants as a theatrical move by Washington.

Iran expects petrochemical exports will reach record levels in value terms in the year to late March.

Iranian experts have updated for the first time a distributed control system (DCS) built by US industrial conglomerate Emerson Electric at a petrochemical plant in the southwestern port of Mahshahr.