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70 Downstream Projects Ready for Financing

Source: 2/7/2017, Location: Asia

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Managing Director of National Petrochemical Company (NPC) Marziyeh Shahdaei says the company has defined 70 downstream petrochemical projects and is ready to introduce them to interested financiers. Speaking on Monday upon a visit to Mahshahr petrochemical zone to launch Takht Jamshid and Karoon projects, southwestern Iran, the official said Iran's total petrochemical production capacity stands at 60 million tons per year after over half a century of the industry's history.

20 petrochemical facilities are operating in Mahshahr with a nameplate overall capacity of 26.3 million tons per year. Iran supplies 2.3% of the world's total petrochemicals and 22.6% of the Middle East region.

Karoon Petrochemical Plant is the first supplier of MDI in Iran which is a strategic product for production of a range of items including foams used in car industry and industrial covers.

Moreover, Takht Jamshid project is a key piece in completion of the value chain in the region because it is fed by butadiene and styrene for production of polymers.

Marziyeh Shahdaei, who is also deputy petroleum minister in petrochemical affairs, also said that NPC has plans for Mahshahr petrochemical zone which is currently operating with 30,000 direct and 47,000 indirect jobs.

She said 7 petrochemical projects with an annual production capacity of 5.5 million tons with an investment of $4.5 billion have been envisaged in the region which will be fed by other petrochemical facilities in Mahshahr.

Furthermore, NPC has defined 70 downstream projects for the region and has so far signed 14 memoranda of understanding (MoU) with developers for their construction.

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