TAPPICO Plans to Finance Polyolefin Projects

TAPPICO Plans to Finance Polyolefin Projects
(Wednesday, December 7, 2016) 00:15

TEHRAN (NIPNA) -- Tamin Petroleum & Petrochemical Investment Company (TAPPICO) has planned to invest in construction of two polyolefin plants parallel with inauguration of Persian Gulf Star Refinery, managing director of the holding said.

 

Speaking to NIPNA, Mohammad Hassan Peyvandi unfolded his company’s major plans in the years to come. 

He said the company will be operating the Siraf and Mahshahr polyolefin plants by 2020, adding the projects will significantly boost Iran’s total polyolefin output in the next five years. 

He also said that TAPPICO is also planning to build the two polyolefin plants to supply gasoline after inauguration of the Persian Gulf Star Refinery. 

The projects will be funded by the revenues collected from the refinery, he added. 

Phase I of the refinery will come on-stream by the end of the current Iranian calendar year which began on March 20 with the production capacity of 12 million liters of gasoline and gasoil with Euro-4 qualities. 

49% of the project’s stocks are owned by TAPPICO. Phases II and III of the refinery will become operational by the next one and a half year. 

Inauguration of the refinery’s first phase will join Iran to the club of gasoline exporters. 
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