Chief Executive Sepahdar Ansari-Nik said the company’s exports had
risen sharply in recent years, increasing from about $300 million in 2021 to
nearly $900 million in 2024, supported by average annual production growth of
around 8%.
“Despite various constraints, Bandar Imam Petrochemical has managed to
sustain production growth and strengthen its export performance,” Ansari-Nik
told a news conference.
He said the complex, one of Iran’s largest petrochemical hubs,
operates diversified value chains including aromatics, olefins and PVC. While
its nominal capacity stands at nearly 6 million tonnes per year, output had
fallen to about 3.6 million tonnes in recent years due to feedstock shortages,
particularly natural gas liquids from upstream oilfields.
Ansari-Nik said targeted investments since 2022 had helped reverse
that trend. These included an $800 million direct investment in the Hoveyzeh
Persian Gulf refinery and participation in the Dehloran pipeline project,
raising NGL feedstock intake to around 80,000 barrels per day from about 40,000
bpd previously.
As a result, annual production increased by an average of 400,000 to
500,000 tonnes between 2022 and 2025, he said, adding that the company ranked
first in production among Iran’s industrial firms in 2024.
Ansari-Nik said Bandar Imam Petrochemical currently has about $500
million worth of development assets under way, including projects in ethane
recovery, chlor-alkali production, storage expansion and pipeline construction.
Around $300 million has also been invested in refurbishment and capacity
upgrades, with annual spending of up to 40 trillion rials ($800 million) on
modernisation and feedstock optimisation.
He warned that intensified global competition, lower petrochemical
prices and higher transport and marketing costs had increased pressure on
Iranian producers, underscoring the need for policy support and improved access
to financing.
“With targeted support and investment-friendly policies, Iran’s
petrochemical industry can maintain and even strengthen its position in global
markets,” Ansari-Nik said.