BAKU, Azerbaijan, June 22. Iran's Pars Petrochemical Company intends to build a propane dehydrogenation (PDH) and polypropylene plant, Executive Director of the company Masoud Hassani said at the annual meeting of the company's shareholders, Trend reports referring to the company’s official portal.
The director noted that the needed site for the construction of this plant has already been selected. In total, $867 million will be spent on the construction of the plant. The plant is expected to be completed in 48 months.
Hassani added that the mentioned money is expected to return in 8.5 years.
“Once fully operational, the plant will have an annual sales worth of $567 million and a net income of $165 million,” he said.
Within last Iranian year (March 21, 2021 through March 20, 2022), Iran's Pars Petrochemical Company sold more than 3.28 million tons of products worth more than 452 trillion rials (about $10.7 billion).
The shareholders of the Pars Petrochemical Company are Persian Gulf Petrochemical Industries Company (60 percent share), Parsian Oil and Gas Development Company (19.78 percent share), Ghadir Investment Company (19.78 percent share) and others (0.44 percent share).
The total number of shares of the company is 6 billion. Of this, more than 3.59 billion belong to the Persian Gulf Petrochemical Industries Company, more than 1.18 billion to the Persian Gulf Petrochemical Industries Company, 1.18 billion to the Ghadir Investment Company and 26.6 million to the others.
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