BAKU, Azerbaijan, February 27. A new petrochemical plant, owned by Mehestan Alay Petrochemical Company, is scheduled to start operating in Iran in mid-2025, said Asghar Tavakkoli, the executive director of the company, Trend reports.
Tavakkoli noted that the plant’s construction progress was at 44 percent and that it would produce 300,000 tons of polypropylene in its first year of operation.
He also said that 70 percent of the plant’s equipment was locally manufactured, saving more than 50 million euros.
The director added that the plant’s full capacity was 450,000 tons of polypropylene per year, which would generate products worth about 500 million euros annually.
He further stated that the country’s current polypropylene production was 1.3 million tons per year and that it imported about 100,000 tons per year.
According to Tavakkoli, the country’s demand for polypropylene would rise to 2 million tons per year in the coming years, as more polypropylene-using industries were being developed in the country.
Mehestan Alay Petrochemical Company operates under the Iran’s Oil Industry Pension Fund.
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.
---
Follow the author on X (Twitter):@BaghishovElnur