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Five New Petchem Projects Signed at Iranplast 2024

Five New Petchem Projects Signed at Iranplast 2024
(Wednesday, September 11, 2024) 16:15

TEHRAN (NIPNA) - Significant petrochemical projects were officially endorsed through contracts and memorandums of understanding during the 18th Iranplast International Exhibition.

These agreements were signed in the presence of Morteza Shahmirzaei, Deputy Minister of Oil and CEO of the National Petrochemical Company (NPC).

The agreements include a contract for a methanol production project with an annual capacity of 36,000 tons in Site 2 of the Special Economic Zone (SEZ) of Petrochemicals with PetroSam Eurasia. Additionally, contracts were signed for the production of yarn, fabric, liner, and side bags with an annual capacity of 6,000 tons, involving an investment of $3 million and 2,500 billion rials with Oja Tadbir Alborz. Another contract focuses on producing pharmaceutical-grade solvents with an annual capacity of 15,000 tons and investments of $2.8 million and 760 billion rials with Jaber Aznaq Chemie.

Furthermore, memorandums of understanding were established for the development of PVC2/VCM/EDC with an annual capacity of 300,000 tons and an investment of $626 million at the Arvand Petrochemical Company, and the expansion of VAM production with an annual capacity of 100,000 tons and an investment of $87 million at Fanavaran Petrochemical Company. These projects aim to boost non-oil exports, achieve self-sufficiency, and strengthen private sector involvement.

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