News Agency - Detail

Holding CEO voices Keenness to Complete Petchem

Holding CEO voices Keenness to Complete Petchem
(Sunday, May 30, 2021) 02:19

TEHRAN (NIPNA) – The CEO of Petrofarhand Holding Company voiced the firm’s eagerness to complete the petrochemical value chain under the auspices of the third leap of the industry in Iran.

Marzieh Shahdaei said: "By obtaining a license from the National Petrochemical Company for the third leap, we seek to complete the value chain of methanolic units and produce polyolefins, polypropylene and implement GTPP projects in Chabahar, Parsian and Mako regions."

She told a press conference: “Petrofarhang Holding is the largest holding in terms of capital value in Farhangian Reserve Fund and in addition to its presence in the petrochemical industry, it also operates in other sectors such as power plants and capital. 1.2 to 5 percent of educators' contributions to the fund until they retire will bring them a good value added at the end of their service.”

She said that this holding has 4 methanol units under way: "Kimia Middle East Petrochemical Plant entered the production circuit last year and is now operating and exporting items with a capacity of 60%, and last week Sabalan Petrochemical Plant developed by Sepehr Energy Group with the partnership of the Bank Saderat was officially put into operation and two projects, Dena and Siraf, will be added to the country's methanol producers within the next 2 years.”

Shahdaei added: "Once Dena and Siraf projects come online, Petrofarhang will have a total of 6.6 million tons per year of methanol production capacity in Iran which make it the largest methanol producing holding company in the world."

She continued: "The physical progress of Dena project has reached 68% and we are seriously looking to complete our development plans."

Petrofarhang Holding CEO stated the current capacity of methanol production in the country is 14 million tons per year, which, by 2024, will exceed 20 million tons, which means 13% of world methanol production will be in the hands of Iran and 4% of it will be supplied by the methanol complexes financed by Petrofarhang Holding.

Email is required
Characters left: 500
Comment is required