Speaking to reporters on Wednesday, the CEO of the Iranian
Investment Petrochemical Group Company (PETROL), Rasoul Ashrafzadeh, said that the
projects would add 2.5 million tons to the country’s annual petrochemical production
The group realized 75 to 90 percent of its production goals
last calendar year, he said, adding the company also witnessed a 115% profitability
last year of which 25% was made possible by costs management.
PETROL is a development and investment company, and its
plans are being implemented in less developed areas, the official added.
He noted 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 gaimed 98
percent progress and would come on stream within the next three months, he
Outlining the progress of other projects, he said the Gachsaran
petrochemical plant had gained 61% progress; a project that is expected to come
online by March 2021.