BAKU, Azerbaijan, Dec. 9
By Elnur Baghishov – Trend:
The production of the Shahid Tondgooyan Petrochemical Company will increase by 450 tons with the establishment of a SSP-C block, the company's CEO Reza Ghasemi Shahri said, Trend reports citing the company’s website.
Chagalesh Consulting Engineers Company of Iran will provide consultancy within the project, while an undisclosed Chinese company will provide the necessary equipment for the block.
According to Ghasemi, the contract is worth about 30 million euro. Most of the funds will be provided from the company's revenues, and the rest by Iranian banks.
The CEO noted that the bottle grade granules production at the block will help diversify production of polyethylene terephthalate (PET) products.
Shahid Tondgooyan Petrochemical Company launched its activity in 1998 and it operates in the Bandar Imam Special Economic Zone. The company produces PTA (Purified Terephthalic Acid) and PET (polyethylene terephthalate) products.
The company produces more than 1.6 million tons of products a year, and the value of the company's annual production is estimated at more than $800 million. The company operates under the Persian Gulf Petrochemical Industry Company of Iran.
Iran's Shahid Tondgooyan Petrochemical Company produced 670,000 tons of products, during the first seven months of the current Iranian year (March 21 through October 22, 2021). This is an increase of about 10 percent, compared to the same period last Iranian year.
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