Iran is set to launch three petrochemicals projects worth $5bn within the next two months, according to the petroleum ministry’s news agency Shana.

The second phase of the 1.1 million tonne-a-year (t/y) capacity Kavian ethylene plant, the 250,000-t/y Entekhab polystyrene plant as well as the 300,000-t/y Kurdistan low-density polyethylene plant will come on stream by 20 March.

The country’s petrochemicals output grew 7.5 million t/y since 2013, under the administration of President Hassan Rouhani, according to National Petrochemical Company (NPC) managing director Marziyeh Shahdaei. The new projects are set to raise the chemicals output to 9 million t/y by the end of his tenure in August 2017, reported Shana.

Iran missed its target of producing 100 million t/y of petrochemicals by 2015 and the capacity of state-owned NPC stood below 60 million t/y, according to US consultancy IHS.

NPC aims to increase production capacity to 180 million t/y by 2025, which is the equivalent of tripling the current size of the sector in eight years.