BAKU, Azerbaijan, February 26. Net profit of Iran's Urmia Petrochemical Company grew by 413 percent in the 11th month of the current Iranian year (January 21 through February 19, 2024), compared to the same period last year, Trend reports.
In that period, the net profit of Iran's Urmia Petrochemical Company was 2.31 trillion rials (about $55 million), according to the data from company.
Meanwhile, in the same period of last Iranian year, the company’s net profit stood at 450 billion rials (about $10.7 million).
During the 10th month (December 22, 2023 through January 20, 2024), the company's net profit amounted to 1.37 trillion rials (about $32.6 million).
The Urmia Petrochemical Company, established in 1990, has a land area of 110 hectares and four plants. It can produce various products such as sulfuric acid, hydrochloric acid, ammonium sulfate, potassium sulfate, and crystalline melamine. The company plans to start building a new polyaluminum chloride (PAC) plant by the end of this year (March 19, 2024).
Currently, Iran’s petrochemical production capacity is estimated at 92 million tons per year. By the end of the current Iranian year (March 19, 2024), it is expected to reach 95 million tons.
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