Iranian petchem co. cuts forex costs by 70%

TEHRAN, Sep. 02 (MNA) – The CEO of an Iranian petrochemical plant said that the company had saved 70% of its expenses in foreign currencies after overhaul of 22 of its units.

Addressing a press conference on Saturday, Ebrahim Valadkhani, CEO of Shazand Petrochemical Plant, said 22 units of the facility were successfully overhauled in less than a month by relying on the expertise of domestic experts and despite the sanctions and the ensuing constraints.

SHANA quoted him as saying that the supply of certain items was not possible from foreign sources due to the US sanctions and, therefore, the items needed to be designed and reverse engineered domestically.

“This company, given the experiences it has garnered during the overhaul, can provide similar units with the knowledge,” he said.

“By relying on local forces, we could gain considerable achievements in the turbines and compressors of olefin units. The plant’s turbines had not been overhauled for 14 years.”

Valadkhani further said that his company offered over $400 billion to the Nima FOREX Management System last calendar year which ended on March 20.


News Code 149596


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