News Agency - Detail

NPC to Launch 1st Propylene Production Unit from Propane Early Next Year

NPC to Launch 1st Propylene Production Unit from Propane Early Next Year
(Thursday, May 2, 2024) 15:44

TEHRAN (NIPNA) - Iran's Deputy Petroleum Minister and CEO of the National Petrochemical Company (NPC) announced the upcoming launch of the country's first Propane Dehydrogenation (PDH) unit by early next year, with other PDH projects also in the execution phase.

Morteza Shahmirzai, speaking among reporters, highlighted the emphasis on increasing production of goods and equipment alongside petrochemical product output in the plans for the year 1403, which began on March 20.

He underscored various strategies aimed at fostering knowledge-based enterprises to propel the production of goods and equipment, a pivotal aspect of the industry's advancement.

Shahmirzai emphasized the importance of domestic sourcing for required goods to witness a substantial leap forward in domestic production without compromising the production plan.

"In line with the Minister of Petroleum's directives and government policies, the petrochemical industry will enter this arena to produce gasoline from methanol instead of exporting it," Shahmirzai stated, addressing the need to address gasoline deficits amid increasing demands.

He further elaborated on the readiness of methanol plants to produce gasoline, revealing incentives and exemptions for these units and the final stages of infrastructure planning and necessary mechanisms for investing in gasoline production from methanol. This move comes as the country's methanol production capacity is high, yet its product chain remains underdeveloped.

The Deputy Petroleum Minister continued, stressing the government's focused efforts on completing the value chain of products and investment, particularly in the 13th government term.

Shahmirzai urged holdings such as Petro Farhang and Shazand, possessing more methanol units, to allocate part of their capacity to produce other chain products and plan accordingly. Additionally, PDH projects are expected to commence soon, with investors seeking to enhance the economic viability of such initiatives.

Furthermore, Shahmirzai disclosed that approximately 127 petrochemical project permits have been officially issued, with seventh development plan projects making an average of 37% progress.

He concluded by stating the fundamental strategy of the 13th government term is to complete the value chain to avoid raw sales and generate added value from hydrocarbon resources.

He noted the revocation of approximately 17 petrochemical project permits following reviews and their replacement with value chain completion projects.

Moreover, 21 value chain completion projects have been communicated to holdings, with necessary permits issued, indicating the serious pursuit of their implementation.

Email is required
Characters left: 500
Comment is required