Speaking to reporters, Massoud Hassani said the process of production and export of Pars Petrochemical Plant had improved a lot in comparison with the preceding calendar year (ended on March 20), adding the company would supply much of its feedstock internally.

Hassani added: "Other than Assaluyeh Styrene Park, 60 domestic industries use styrene monomer as a feedstock for polystyrene industries.”

The final decision has not yet been made, but the outcome will be known soon regarding construction of several plants in the facility for production of various downstream items, he added.

Pointing out that one of the company's plans was to produce more value-added product items from styrene monomer other than usual polystyrene, he said: "Implementing this program can generate an annual profit of IRR100,000 billion from currently IRR60,000b.”

21.5% Growth in Exports

The Pars Petrochemical Plant’s CEO went on to pointed to tighter sanctions on Iran in the current calendar year, adding: “Production and exports of the company have increased despite the tightening of sanctions over the same period last year. The company's exports in the past eight months of this year compared to the same period last year have increased by 21.5 percent.”

Noting that production capacity of styrene monomer had increased by 7% and ethyl benzene by 20%, he said: “The company's plan is to achieve a 25% growth in styrene monomer production next year.