Debottlenecking raises PGPIC income by $2b

Debottlenecking raises PGPIC income by $2b
(Tuesday, August 29, 2017) 15:03

TEHRAN (NIPNA) -- Iran's Persian Gulf Petrochemical Industries Company (PGPIC) has raised its annual revenues by at least 2 billion dollars by efficiently applying debottlenecking procedures in its facilities since 2013, PGPIC managing director says.

Adel Nejad Salim said the process has improved the value of the products supplied by its subsidiaries.

The holding produced 19.6 million metric tons of petrochemicals in the previous Iranian calendar year that ended on March 20 up by at least 4 mt/y from 2013, the year Iranian President Hassan Rouhani took office, he said.

The increase has added a total of $2b to the company's annual revenues, he added.

The official added that PGPIC subsidiaries yield an average of 87% of their nameplate capacity as debottlenecking measures have been taken in them over the course of the past 4 years in order to improve their efficiency.

Nejad Salim further predicted that PGPIC output will reach 30 mt/y by the end of the next calendar year to March 2019.

Moreover, production of the holding is planned to cross 45 mt/y by 2023, he added.

Debottlenecking is the process of identifying specific areas and/or equipment in oil and gas facilities that limit the flow of product (otherwise known as bottlenecks) and optimizing them so that overall capacity in the plant can be increased.

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