According to IIPG, Rasoul Ashrafzadeh said his company is
planning to start manufacturing two new ethylene oxide and ethylene propylene
diene monomer projects with the aim of completing the value chain.
He said, "Considering the move of the Persian Gulf
Petrochemical Industries Company (PGPIC) towards development of complementary
industries, the products of these industries are strategic and value-creating
and prevent exit of hard currency from the country.”
The official added the feedstock of the mentioned projects
will be provided through PGPIC subsidiaries and finally these projects will
pave the way for promotion of the value chain and development of complementary
industries in the industry.
The CEO of IIPG underlined construction of the ethylene
oxide project with a production capacity of 68,000 tons per year, and said the
project will be fed by ethylene and it will completed with €110 million of
investment in 36 months.
Ashrafzadeh went on to add that the other project, an
ethylene-propylene diene monomer plant, will also be financed by the group as
one of its other development projects, stating the capacity of this project
will be 50,000 tons per year, and it will be fed by ethylene and propylene with
an investment volume of €154 million.
He said: "Completing the value chain, preventing the
sale of raw materials, developing complementary industries, preventing the
import of certain items, creating sustainable employment in less developed
regions of the country and developing diverse and strategic products are the
main goals of implementing the two new projects."