Speaking in a ceremony to celebrate the Iranian Petrochemical Industry Day on Saturday, Mohammad-Reza Heidarzadeh added the company has managed to produce 1.476 million tons and sell 872,000 tons in the nine months of the current Iranian calendar year (starting March 21, 2023) – the highest quantities up to now.

The country’s petrochemical industry has made unparalleled progress and ranks first in exporting value-added products and boosting foreign currency inflows, he continued.

Arya Sasol Polymer Company has also witnessed great developments in recent years, producing new grades, improving productivity, developing human resources, and setting up a knowledge-based and innovation center, said Heidarzadeh, adding ASPC was picked as the product-based knowledge-based company by the Presidential Department of Science, Technology and Knowledge-Based Economy this year.

Increase in revenues

Heidarzadeh put great emphasis on developing international markets with the aim of raising hard currency, supporting economic resistance, and preventing the selling of raw materials.

Arya Sasol Polymer Company is now exporting around 20 percent of its products directly to target markets, he pointed out.

Pointing to production of LEC 1969, the first commercially proven tubular low-density polyethylene (LDPE) grade for extrusion coating in Iran, unveiled on January 22, 2023, the CEO of ASPC added this grade saves the country $20 million per year.

He said Data Rain, an IT product, was also unveiled on the same day.

The company’s high-density polyethylene (HDPE) and medium-density polyethylene (MDPE) project has made great progress since May 2022, mentioned Heidarzadeh, predicting it will generate $100 million annually when it becomes operational.

He said ASPC is implementing the olefin unit’s 10th furnace project, which is expected to come on stream by mid-March 2025.

The company is also carrying out the project of separating C3+, said the ASPC chief, explaining it will help separate 165,000 tons per annum and earn $10 million yearly when it is completed.

Arya Sasol Polymer Company received UNESCO awards at the end of the ceremony for making social and environmental contributions and helping prevent the extinction of Jabeer gazelle (Gazella bennettii).