19 December 2022 - 13:10
  • News Code: 466136
PGPIC Installed Capacity to hit 46mt/y by 2026

TEHRAN (Shana) -- The installed capacity of Persian Gulf Petrochemical Industries Company (PGPIC) is planned to hit 46 million tons per year by 2026 from currently 28 mt/y, an official with the holding says.

Hassan Neshanzadeh Moghadam, PGPIC’s director of planning and business development, said on Sunday that PGPIC’s strategy under the new leadership is to reach Germany’s BASF, which is achievable due to the existence of huge feedstock resources and knowledge-based companies in Iran.

Pointing out that Iranian knowledge-based companies are more than a century away from large European companies, he noted that each of them is, nevertheless, competitive in their field.

“Today, some of the top active knowledge-based companies in the petrochemical field are appreciated; companies whose products can be said to be comparable with the products of European companies,” he said.

The PGPIC official further said that the installed capacity of the holding is currently 28 million tons per year, which will reach 33 million tons once three new projects come online in the near future.

He also added that the company’s capacity was planned to reach 46 million tons per year by 2026.

Neshanzadeh Moghadam stated that 75% of petrochemical industry equipment is already localized, and stated: “We hope to improve this amount by 5% and reach 80% in one year. Currently, the use of domestic construction equipment in the two projects of Gachsaran and Yadavaran is more than 80%.”

News Code 466136

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