BAKU, Azerbaijan, June 25
By Elnur Baghishov –Trend:
Iran's Bakhtar Petrochemical Company's polyethylene production capacity will increase to 1.5 million tons a year with commissioning of Miandoab petrochemical plant in Miandoab county of West Azerbaijan Province (northwestern Iran), Executive Director of Davoud Reza Rabbani said, Trend reports citing Iran’s National Petrochemical Company’s official portal.
He made the remark via videoconference at an event dedicated to the commissioning of the Miandoab petrochemical plant.
According to Rabbani, at the same time, the company's exports will increase by 15 percent per year.
Rabbani added that currently, Bakhtar Petrochemical Company accounts for 10 percent of Iran's petrochemical products exports.
The director said that Bakhtar Petrochemical Company currently employs 8,000 people, and the number of employees will increase by 16,500 in the current Iranian year (began March 20, 2020) with the commissioning of the planned facilities.
Rabbani said that the construction of the Miandoab petrochemical plant began in 2016, and production at the plant began last week and was officially commissioned today.
"Local catalysts produced by Iran's Bakhtar Petrochemical Company were used for the first time at the Miandoab petrochemical plant," he said.
Miandoab petrochemical plant in Miandoab county of West Azerbaijan Province (northwestern Iran) put into operation today (June 25). About 40 million euros and 120 million dollars funds were spent on the construction of the plant andthe plant will produce 140,000 tons of polyethylene a year.
The shareholders of Miandoab petrochemical plant are Bakhtar Petrochemical Company (70 percent) and Pushineh Methanol Company (30 percent).
Bakhtar Petrochemical Company purchased the equipment of the plant under the license of Mitsui Company of Japan.
Last year (March 21, 2019 to March 20, 2020), Iran exported 23 million tons of petrochemical products worth $10 billion.