According to the National Petrochemical Company (NPC), Seyed Reza Ghasemi-Shahri said that a €30m contract for enhancing and diversifying the bottle grade of the company had also been signed with Iranian financing.

He said the deal had been signed with an Iranian company with the aim of increasing the production capacity of different grades of polyethylene terephthalate items of the facility by 50 tons.

He stated that in addition to increasing production capacity, diversification of the produced grades with the aim of changing the use of one of the units of textile pet grade to bottle grade is another goal of this project; in other words, by implementing this project, in the months of the year when the demand for bottle grade is high, the company can shift its production to this grade.

He said the project is financed by Tejarat Bank and would come online in a period of 18 months, adding besides this contract, another deal has been signed with an Iranian knowledge-based company for production of a pretty complex catalyst which is currently supplied only by a few major European companies including Germany’s BASF and Italy’s ClarineT.