Speaking to NIPNA on the sidelines of the 29th Iran
International Oil, Gas, Refining and Petrochemical Exhibition, CEO Sepahdar
Ansari-Nik announced the start of new development phases at the complex,
including participation in the strategic “Almas Mahshahr” project — a flagship
initiative under the Persian Gulf Petrochemical Industries Company (PGPIC).
“This project includes the construction of polyolefin
production units and is a decisive step toward value chain integration,”
Ansari-Nik said. “For three decades, feedstocks like propane, butane, and
pentane were exported in raw form. With these new investments, they will be
converted into finished petrochemical products.”
4 Trillion Rials Invested to Modernize Production
Aligned with Iran’s 1404 (2025–2026) national theme of
“Investment in Production,” Bandar Imam Petrochemical has committed over 4
trillion rials to production unit upgrades. So far, 56 projects have been
completed this year, with more than 150 additional initiatives currently
underway.
The company’s development portfolio includes the $1 billion
“Coral-Kalita to PVC” project and a $50 million aromatic value chain expansion.
A separate $50 million ethane recovery unit is expected to come online by
year-end.
Flaring Reduction in Partnership with NIOC
Ansari-Nik highlighted the company’s efforts to reduce gas
flaring through cooperation with the National Iranian Oil Company (NIOC). A
$150 million contract has been signed with the Hoveyzeh Gas Refinery to serve
the Darquain and Jofeir fields, with pipeline installation already in progress.
BIPC has also supplied over 450 billion rials in equipment
to NGL units 700, 800, 1200, and 1500 to support flaring reduction and
operational continuity. The company has requested NIOC approval for an annual
$20 million investment to overhaul NGL infrastructure, to be offset against
feedstock contracts.
Environmental Upgrades and Renewable Energy Plans
Environmental protection remains a core pillar of BIPC’s
development agenda. In addition to flaring reduction, a modern wastewater
treatment facility has been launched to protect the Musa estuary, with further
upgrades underway.
BIPC has also entered the renewable energy sector,
establishing a new company focused on solar power generation. The firm has
formally declared its readiness to finance the production of 200 megawatts of
solar energy — part of PGPIC’s broader 4,000 MW clean energy strategy.
The initiatives reflect Bandar Imam Petrochemical’s
long-term vision of sustainable growth, value creation, and reduced dependency
on raw exports amid an evolving energy landscape.