Iran's Pars Petrochemical Company to begin propylene production

Oil&Gas Materials 15 March 2022 13:54 (UTC +04:00)
Iran's Pars Petrochemical Company to begin propylene production

TEHRAN, Iran, March. 15


The executive operation of the Pars Petrochemical Company's plan to the conversion of propane to propylene by 600,000 tons and production of 500,000 tons of polypropylene will begin soon, said Masoud Hassani the CEO of Pars Petrochemical Company, Trend reports citing ILNA.

Masoud Hassani made the remarks during a press conference.

Referring to the company's propane dehydrogenation (PDH) and polypropylene (PP) production plans, he pointed out that the Pars Petrochemical Company has the capacity to produce more than 700,000 tons of propane for its feedstock.

"Investment costs in the project will total around $866 million," said Hassani. "The Investment had an ROI of 17.18 percent, over 8.8 years, including four years of construction time."

Additionally, 370 people directly and 2500 people indirectly will be employed via the implementation of this project.

Regarding the financing of the PDH project, the CEO of Pars Petrochemical Company said that the company obtains 6 percent of the project's financial resources from the source of shareholders and 74 percent from long-term foreign exchange credits.