BAKU, Azerbaijan, March 23. Iran’s Bandar Imam Petrochemical Company (BIPC) has invested substantial funds in procuring supplies for its chlor-alkali plant, with a total expenditure reaching $100 million, Sepahdar Ansarinik, the company’s executive director, told reporters, Trend reports.
In his statement to local media, Ansarinik revealed that the construction of the plant is currently 47 percent complete.
In addition to this, another batch of supplies is set to be imported into the country, he confirmed.
Moreover, the company has also allocated 56 million euros for the establishment of its ethane reprocessing unit.
Ansarini further disclosed that during a recent shareholders' meeting on March 18, the company’s capital was increased by 380 percent, although the exact capital amount was not specified.
Iran's Bandar Imam Petrochemical Company is located in an area of 270 ha in the southwestern province of Khuzestan. The facility has a significant production capacity, with an annual output of 1 million tons of ethane, 1.96 million tons of propane, 1.57 million tons of butane, 1.41 million tons of pentane plus, and 30,500 tons of raffinate C4. Additionally, the company is capable of producing 411,000 tons of ethylene, 118,000 tons of polypropylene (chemical grade), 64,000 tons of polypropylene (polymer grade), 26,000 tons of butadiene, 88,000 tons of C4 cut, 180,000 tons of vinyl chloride monomer, 440,000 tons of ethylene dichloride, 63,300 tons of hydrochloric acid, 6,600 tons of bleach, 150,000 tons of heavy polyethylene, 100,000 tons of light polyethylene, and 4,000 tons of synthetic rubber annually.