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Phase II of Kermanshah Petchem Project Shows Remarkable 73% Progress

Phase II of Kermanshah Petchem Project Shows Remarkable 73% Progress
(Saturday, December 2, 2023) 15:08

KERMANSHAH (NIPNA) - The ongoing expansion project at Kermanshah Petrochemical Industries has marked a significant leap with a 73% overall progress, stated by the company's Managing Director. With over 217 million euros already invested in this development initiative, it has made notable strides in executing 23 major contracts, with 12 contracts presently underway.

As reported by NIPNA citing the public relations office of Kermanshah Petrochemical Industries, Seyyed Jafar Hashemi, the Managing Director, highlighted the advancements made in the Phase Two project.

"Up to this stage of the development plan, 73% progress has been achieved, constituting a major leap in the project's overall execution. A considerable portion of the budget has been sourced domestically, indicating a 51% utilization of funds acquired since 2021," Hashemi mentioned. This progress is the highest achieved since the project's inception back in 2010.

Elaborating further on the project's milestones, Hashemi emphasized the company's dedication to bringing units like the auxiliary services and ammonia to operational status by late 2024 and the urea unit by the mid-2025. These endeavors are aimed at doubling production, generating employment opportunities, and consequently contributing to the region and the nation's economy.

The Managing Director underlined the strategies employed in the project's execution, emphasizing the maximization of domestic engineering capabilities, local resource utilization for enhanced domestic production, and the adoption of various negotiation strategies to procure cost-effective equipment, resulting in a 15% reduction in project expenses.

Hashemi also highlighted several specialized projects focusing on optimizing water consumption, enhancing power reliability, improving productivity, developing infrastructures, prioritizing research and innovation, and promoting domestic manufacturing. These initiatives are projected to elevate Kermanshah Petrochemical Industries to a pioneering research and innovation hub in the petrochemical industry, establishing the company as a leading industrial entity in the western and northwestern regions of Iran.

Furthermore, Hashemi hailed the company's remarkable performance, surpassing its nominal capacity by 110% in production, placing it at the forefront among urea producers. Kermanshah Petrochemical Industries has exhibited the highest export sales among urea producers, as well as the lowest production costs and highest operational profit margins compared to other companies in the first half of the year, based on audited financial statements.

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