TEHRAN (Iran News) – As many as 18 petrochemical projects will be designed and implemented in Chabahar Free Zone from 2022 onward, according to an official.

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According to NPC, he added that 56 petrochemical plants of the country yielded 31 million tons of finished products annually, of which 22.5 million tons were exported and 8.5 million tons were consumed domestically.

He added that the total value of petrochemical products from domestic sales and exports was $17 billion annually.

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According to the National Petrochemical Company (NPC), the company was ranked 38th in the world in the 2018 ICIS listing. The improvement comes despite the re-imposition of US unilateral sanctions on Iran.

In a statement, PGPIC CEO Jafar Rabiei congratulated his personnel on this remarkable achievement, emphasizing that US sanctions had no effect on the development of the sector.

The ICIS Top 100 Chemical Companies is a ranking of the world’s largest chemical producers by sales. The listing includes both public and private companies, as well as additional metrics on operating profit, net income, capital expenditures, R&D spending, as well as total assets and the number of employees.

PGPIC is the largest company listed in Tehran Stock Exchange and is the second largest petrochemical company in the Middle East.

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He put the current production capacity of petrochemical industry in the country at 66 million tons.

He went on to say that value of petrochemical products (in rials and currency) will hit from current $17 billion to $24 billion in 2021, adding, “with the operation of other petrochemical projects by the end of 2025, value of petrochemical products will hit $37 billion.”

The Deputy Minister of Oil for Petrochemical Affairs Mohammadi put the daily production capacity of methanol in Arta Energy Petrochemical Company at 400 tons, adding, “construction operation of this petrochemical project is underway with 65 physical progress, so that this giant petrochemical project will be inaugurated in the next year (to start March 21, 2020).”

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SHANA quoted him as saying that the supply of certain items was not possible from foreign sources due to the US sanctions and, therefore, the items needed to be designed and reverse engineered domestically.

“This company, given the experiences it has garnered during the overhaul, can provide similar units with the knowledge,” he said.

“By relying on local forces, we could gain considerable achievements in the turbines and compressors of olefin units. The plant’s turbines had not been overhauled for 14 years.”

Valadkhani further said that his company offered over $400 billion to the Nima FOREX Management System last calendar year which ended on March 20.

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He said 13 petrochemical companies had purchased the catalysts and would use them in their operations.

As an example, the official said that consuming Ziegler–Natta catalyst used for the production of linear light polyethylene would save companies some $30 million annually.

Moreover, commercialization of the catalyst for the production of high-density polyethylene pipes would save petrochemical companies $15 million annually.

PRTC cooperates with a wide range of petrochemical companies in Iran as licensor and research consultant, Pajouhan said.

Petrochemical is Iran’s most important industry after oil and gas. The National Petrochemical Company hopes to lift output capacity to 120 million tons per annum by 2022.

In the March 2018-19 fiscal, Iranian companies exported $14.1 billion worth of petrochemicals. Official data has it that petrochemicals account for 32% of Iran’s non-oil exports.

The petrochemical industry has played a key role in domestic economic growth as it creates value-added and reduces the sale of oil and gas on which the economy has been dependent for decades.

With abundant hydrocarbon reserves and new private sector investments, Iran is working hard to maintain its global status in the key sector and broaden its scope.

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Stressing the importance of environmental measures to his department, Emadi said, “Fortunately, petrochemical complexes and plants have made significant strides in recent years in this regard.”

He said the sector’s move towards green and low-carbon operations was a strategy in all sectors of the industry, adding that greenhouse gas emission reduction projects are being implemented in petrochemical companies as Kermanshah, Razi, Maroon and Shiraz petrochemical plants have made great achievements in this field.

The official further said that Bandar Emam Petrochemical Plant had carried out a landfill project with 30,000 tons of capacity which is regarded as the first standard petrochemical landfill in the industry in Iran.

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Hassan Moeini, deputy managing director of the company, said “Given the importance of ethylene production from gas and propylene, pyrolysis petrol and butadiene from liquid feedstock, this project was implemented with the aim of increasing the gas and liquid feedstock by 15 percent.”

The project brought the feedstock supply capacity of the company from 40 to 46 tons for gas and 50 to 57 tons for liquid feedstock, he said.

According to the official, the project would also generate 8 to 10 million euros in annual revenues for the company.

Jam Petrochemical Complex, with olefin, heavy and light polyethylene, butadiene and butene 1 production units, is one of the largest producers of olefins in the world and a major producer of polymer products in Iran.

According to First Vice President Es’hagh Jahangiri, Iran’s petrochemical production capacity is expected to reach 90 million tons per year from currently 64 mt/y by 2022.

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Rasoul Ashrafzadeh said that the projects would add 2.5 million tons to the country’s annual petrochemical production capacity.

The official said that the group realized 75 to 90 percent of its production goals last calendar year, adding the company witnessed a 115% profitability last year of which 25% was made possible by costs management.

He said PETROL’s plans are being implemented in less developed areas.

Ashrafzadeh further said that the olefin unit of Ilam petrochemical plant would come on stream by late September and would become operational by November, adding that the project would become fully operational by March 2020.

Furthermore, Urmia petrochemical plant has gained 98% progress and would become operational within the next three months, he added.

Outlining the progress of other projects, he said the Gachsaran Petrochemical Plant has gained 61% progress – a project that is expected to go on a full swing by March 2021.

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Jahangiri, who was speaking in the southern Fars Province, said that such growth in the petrochemical sector of the country was unprecedented.

He further said that by imposing sanctions, the Americans sought to dissolve the Islamic establishment of Iran which would never take place given the help of God.

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