Iran's Petroleum Minister, Bijan Namdar Zanganeh says the next Iranian year will be the year of Iran's petrochemical industry.

NPC's output reached over 3.2 million tonnes in the second quarter of the current Iranian fiscal year starting from 21 March 2001. This is an increase of 9% on corresponding period last year.

NPC and the European polyolefins producer Basell signed on 31 October 01 two separate contracts for joint R&D collaboration in polyolefins and license technology contract for a high density polyethylene (HDPE) pilot plant based on Hostalen process.