14 February 2021 - 19:58
  • News Code: 313581
Plans under way for Building 3 Petchem Feedstock Megaprojects

TEHRAN (Shana) – An official with the National Petrochemical Company (NPC) said construction of the three megaprojects for production of olefin and aromatic hybrid feedstock projects would begin in the near future.

According to the National Petrochemical Company (NPC), Hassan Abbaszadeh, who is NPC’s director of planning and development, said the projects were aimed at completing the value chain and diversity the petrochemical portfolio of five chains of propylene, methanol, ethylene, benzene and urea.

He said that currently the average price of final petrochemical products is $500 per ton, adding: "The development of these five chains will lead to the production of more valuable products, the price of which is about $1,500 per ton."

Currently, the production capacity of polymers in the petrochemical industry is 9 million tons per year in Iran which is planned to reach 20 million tons by 2025.

He stated that construction of the three megaprojects would begin in the near future, adding Hormoz Persian Gulf Petrochemical Company would be developed with an annual capacity of 5.8 million tons with an investment of about $4.5 billion with ethane and butane as its feedstock. The plant will produce polyethylene and polypropylene.

The official added that another project would be Vista Energy Arghavan in Assaluyeh to be fed by ethane and butane with an investment of $1.6 billion; the plant will have an annual production capacity of 1.8 million tons.

The third project is the aromatic olefin project of Aria Oil and Gas Company, a subsidiary of the Persian Gulf Petrochemical Industries Company (PGPIC) with naphtha and ethane as its feed with an investment of $4.8 billion; the plant will have an annual production capacity of 4.8 million tons, he added.

News Code 313581

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