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Safir Petchem Project Set to Launch by the End of 2023

Safir Petchem Project Set to Launch by the End of 2023
(Saturday, November 4, 2023) 14:09

TEHRAN (NIPNA) -- The Managing Director of the Persian Gulf Petrochemical Industries Company, Abdul Ali Ali Asgari, has announced that the "Safir Petrochemical Project" is on the verge of commencing its operations in the near future.

He also provided an update on the "Hengam Petrochemical Project," which is expected to be fully operational by the end of the current year.

According to reports from the company's public relations department, Abdul Ali Ali Asgari stated that the "Hengam Petrochemical Project," covering an area of 25 hectares, is in its final stages before going into operation. This project boasts a daily production capacity of 2,200 tonnes of ammonia and 3,500 tonnes of urea. It has achieved an impressive record of 18 million person-hours of accident-free work since the beginning of its implementation.

Regarding the "Safir Petrochemical Project," which is one of the ongoing projects of the Persian Gulf Petrochemical Industries Company, Asgari added that this project, with a production capacity of 136,000 tonnes and a value of $1,700 per ton, is expected to enter the startup phase by the end of the current year.

Asgari emphasized that the "Safir Petrochemical Project" is the largest industrial rubber production project in Iran and the western Asia region. Its completion will have a significant impact on meeting domestic needs, increasing exports, and expanding Iran's presence in global markets.

The Managing Director of the Persian Gulf Petrochemical Industries Company also highlighted the remarkable growth of the company's production, with an increase of over 9.7% compared to the previous year. This growth has resulted in the accumulation of 128 trillion rials in consolidated profits in the holding, representing an impressive 64% growth compared to the previous year. Additionally, this year, the general assembly has decided to distribute a 70 rial dividend per share among shareholders, including the Justice Shares program beneficiaries. This distribution of profits will benefit a significant portion of the Iranian population and a substantial portion of retirees.

The progress in Iran's petrochemical industry, as exemplified by these projects, highlights the nation's commitment to expanding its industrial capabilities, contributing to the economy, and promoting social well-being.

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