The CEO of Parsian Oil and Gas Development Group called
Kian Petrochemical project one of the most strategic petrochemical plants in
the country in line with the sustainable development of the petrochemical
industry and creation of highly value-added projects, and said the first phase
of the facility would come online on Monday, February, 29.
Vahid Mahmoudi stated Kian Petrochemical project includes
a set of olefin and downstream units that have a high added value in the
petrochemical industry compared to existing chains.
He added: "Kian Petrochemical Plant is designed in
two phases, the first phase will be heavy olefin and polyethylene units and the
second phase will be propylene oxide, ethyl benzene and styrene monomer units
and oxo alcohol units; the total investment of phases one and two is about 3.5
billion euros."
The CEO of Parsian Oil and Gas Development Group pointed
to the implementation of this project in the second phase of Assaluyeh
Petrochemical Special Zone, and said 60% of this company belongs to Parsian Oil
and Gas Development Holding and 40% belongs to Petrofarhang Holding.
27% Return on Investment
Mahmoudi stated that the contractor of the Olefin unit is
OIEC Company which has developed it under an EPCC contract, adding that the
amount of this contract is 1 billion and 360 million euros and the license of
this unit is from the Germany’s Linde.
The CEO of Parsian Oil and Gas Development Group
Company, pointing out that 450,000 tons of ethylene and 450,000 tons of heavy
polyethylene will be produced in the heavy polyethylene unit, continued: Nargan
Company is the contractor of this unit under an EPCC contract with an
investment of about 8. 5 million euros.
Mahmoudi stated that the rate of return on capital of
Kian Petrochemical Plant is 27%, and said: "This project is one of the
most attractive projects in terms of rate on return and in terms of unit size
and having a collection from olefins to heavy and low polyethylene products, it
is one of the largest projects ever built [in the country]."
Emphasizing that the priority of his holding is to use
domestic forces, Mahmoudi said: "In the implementation of Kian
Petrochemical project, maximum efforts will be made to use domestic production,
and this project, as one of the largest petrochemical projects in the country,
will create employment for about 3,000 people during construction and operation
phases."