Completion of Value Chain, Key Strategy for Petchem Development

(Wednesday, July 8, 2020) 15:33

TEHRAN (NIPNA) – The CEO of the Iranian Petrochemical Investment Group (Petrol) said one of the main policies of Petrol is to move towards development of complementary industries.

Speaking to NIPNA, Rasoul Ashrafzadeh said: "The new strategy of Petrol is to ensure development of downstream petrochemical industries, and one of the challenges we face in the petrochemical industry, which has not been paid enough heed in recent years, is the downstream and complementary industries as well as completion of the industry’s value chain and processing of new products.”

He added: "In this regard, the Persian Gulf Petrochemical Industries Company (PGPIC) has entrusted the development of complementary industries to Petrol by awarding it development of a methyl amine project in Songhor, a caustic soda production unit in Mahshahr and a melamine crystal production project in Lordegan.

All these projects will come on stream in the third leap in the petrochemical industry to 2026.

Ashrafzadeh also announced that the fourth project by the company was the production unit of poly-aluminum chloride in Urmia Petrochemical Plant, and said the projects were currently under study and were undergoing licensing procedures and would take between 18 to 24 months to complete.

He also added that the projects would need an investment of over 100 million euros which had been procured.

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