Iran to Launch 3 Petchem Projects by March 2020

(Saturday, August 10, 2019) 16:33

TEHRAN (NIPNA) -- Lordegan, Ilam and potassium sulphate unit of Urmia petrochemical plant are three major petrochemical projects what will come on stream by the end of the current calendar year, which began on March 21.

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 capacity.

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 added.

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.


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National Petrochemical Company