1 March 2021 - 11:50
  • News Code: 314124
Iran Launches Major Petchem Feedstock Project

TEHRAN (Shana) – Iranian President Hassan Rouhani officially launched the ethane recovery unit of Kangan Petro-Refining Company via videoconference.

The unit is touted as the largest feedstock supply unit for petrochemicals in the country.

The CEO of Kangan Petro-Refining Plant, Hamid Ghaderi, said: "This unit will generate $1 billion annually for the country."

Noting that the ethane recovery unit of Kangan Petro-Refinery has been built with a capital of $970 million, he said: “This unit is the first phase of Kangan Petrochemical Company with an annual production capacity of 3.5 million tons.”

He pointed out that the ethane recovery unit receives 21 million tons of feedstock annually from phase 12 of South Pars gas field, adding: “1.75 million tons of ethane, one million tons of propane, 500,000 tons of butane and 250,000 tons of pentane can be produced in this production unit annually which could bring in about $1 billion in revenue for the country.”

The CEO of Kangan Petro-Refining Company, emphasizing that 100% of the design, engineering and commissioning of all units and departments, including basic engineering and detailed engineering of the project, has been carried out by Iranian companies, continued: “In the implementation of this project, maximum effort has been made to make use of Iranian goods and 65 percentage of the equipment for the project was supplied from within the country.”

The official father added that the project has created employment for 3,500 people during the construction period and 622 others during the operation period.

News Code 314124

Tags

Your Comment

You are replying to: .
1 + 11 =