Hamidreza Khalili, CEO of Petrochemical Investment and Development
Company (PETROL), said during a visit to the complex on Wednesday that the
project marks a major step forward in the holding’s value-chain development
strategy.
“This is the first polypropylene production project within the Persian
Gulf Holding,” Khalili said. “It represents the success of precise planning,
technical expertise, and faith in domestic capabilities. The completion of
Arghavan Gostar Ilam demonstrates that our path of industrial expansion
continues with determination.”
The project, located in western Iran’s Ilam Province, aims to supply
both domestic and export markets, responding to rising demand for
polypropylene, a key material used in packaging, textiles, and automotive
components.
Khalili noted that Arghavan Gostar Ilam Petrochemical, listed on the
Iranian stock exchange under the symbol SHARPYLEN, holds strong market
potential due to high demand for its products at home and abroad.
He also highlighted progress on the Sadaf Persian Gulf Petrochemical
Project, another major downstream development within the holding, which has now
reached 95% completion. “Installation and handover of operational units are
nearing completion, and we expect the complex to come fully online by the end
of this year,” he added.
Petrol, a subsidiary of PGPIC, oversees the development of downstream
petrochemical projects designed to enhance Iran’s value chain, expand non-oil
exports, and strengthen domestic production capacity.