Propylene production capacity to increase by 3m tons

TEHRAN, Jul. 29 (MNA) – Iranian deputy oil minister announced on Monday that having seven petchem projects implemented, the country’s propylene production capacity will be increased by three million tons by the end of the present Iranian calendar year (March 20, 2020).

As Behzad Mohammadi announced in a meeting with petrochemical managers, “from among the said seven projects three are located in Mahshahr, Khouzestan province and four are in Asalouyeh and Kangan, Bushehr province."

"Above 900,000 tons of propylene are presently produced by two refineries and six petrochemical complexes in Iran," he said.

“The whole produced amount is consumed domestically,” he added.

As Mohammadi, who is also the CEO of the National Petrochemical Company (NPC), said previously, final decisions regarding the construction of a new petrochemical hub in the southwestern region of Mahshahr would be taken soon.

The US has recently imposed sanctions on Iranian petrochemicals sector including its largest petrochemical holding group, the PGPIC. The US Treasury also designated the holding group's network of 39 subsidiary petrochemical companies and foreign-based sales agents. 

However, Iranian officials believe that sanctions cannot affect Iran’s petrochemical products due to their variety and production volume as well as the dependency of the customers on them.

HJ/ 4679528

News Code 148224


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