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Iranian Investment Petrochemical Group invests $700m to complete value chain

Iranian Investment Petrochemical Group invests $700m to complete value chain
(Thursday, May 18, 2023) 15:39

TEHRAN (NIPNA) - The CEO of Iranian Investment Petrochemical Group (PETROL) said on Thursday that his group was making extensive investments to complete the value chain in the petrochemical industry.



Rashid Ghanee, speaking at the 27th Oil Industry Exhibition in Tehran, said that his group had six projects under construction and hoped that several of these complementary petrochemical projects would reach the pre-commissioning stage by the end of the year.

He said that his group was building the Sadaf Petrochemical Complex in Asaluyeh and the ESBR complex, which produces raw materials for rubber, and added: "We also have the Arghavan Gostar project in Ilam, which is a project for producing polypropylene and will lead to increased capacity and production for industries based on polypropylene."

The CEO of PETROL also referred to his group's project under construction in Kermanshah, and said: "In the city of Sonqor, we have an operational complex for producing methylamine, which is expected to meet the needs of various industries, including the health industry."

Rashid Ghanee also mentioned the implementation of the polyaluminum chloride project of Urmia Petrochemical Company, and said: "Along with Lordegan Petrochemical Company, we have a melamine crystal complex under the name of Petro Armand Lordegan under construction, and we also have a project for producing caustic soda for the first time in the country by Petro Perk Pouya Company in Mahshahr."

He said that the oil, gas and petrochemical exhibition was an opportunity for different elements active in the oil, petrochemical and gas industry to have better cooperation, and said: "The oil, gas and petrochemical exhibition is held every year and we hope that this year will also achieve desirable results and our knowledge-based companies and contractors will be able to sign more contracts and as a result, the level of localization in the oil, gas and petrochemical industry will increase."

The 27th International Exhibition of Oil, Gas and Petrochemicals officially started on Thursday (May 17) and will run until May 20.

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