15 October 2019 - 18:02
  • News Code: 294478
IIPGC Mulls Developing Downstream Projects

TEHRAN (Shana) – The CEO of Iranian Investment Petrochemical Group Company (IIPGC) said the company had planned to develop downstream petrochemical projects in line with the third petrochemical leap to 2025.

According to the National Petrochemical Company (NPC), Rasoul Ashrafzadeh said IIPGC had assessed development of downstream projects in the third petrochemical leap of the country.

Iran has planned to realize the second and third leap in its petrochemical industry by 2025 which will bring the country’s annual petrochemical production capacity from currently 66 million tons to 130 mt/y.

Ashrafzadeh said that production by the end of this calendar year to March 20 would begin in the 40,000-ton potassium sulfate unit of Urmia plant, adding that the projects in Ilam Olefin plant as well as Lordegan’s urea and ammonia facilities would come online this calendar year.

He further underlined IIPGC’s presence in the stock exchange, and added: "This year, we have planned to quote Ilam and Urmia petrochemical plants in the stock market after their launch.”

According to the official, once IIPGC’s projects come on stream by 2022, over 2.4 million tons of petrochemicals would be added to the country’s annual production capacity.

News Code 294478

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