Iran's Pars Petrochemical Company eyes to increase production

Business Materials 19 January 2020 14:18 (UTC +04:00)

BAKU, Azerbaijan, Jan. 19

By Elnur Baghishov - Trend:

Iran's Pars Petrochemical Company, located in the Pars Special Economic Energy Zone (PSEEZ) of the country's Bushehr province, is expected record high figures in production by the end of the current Iranian year (March 21, 2020), Trend reports referring to the company.

The production increased on average by 8.5 percent at the company's units that manufacture main strategic goods in the first nine months (from March 21 to Dec. 21, 2019) of the current Iranian year. Thus, butane production increased by 11.8 percent, while ethanol and propane production increased by 8 percent and 9 percent, respectively.

Production of the company's ethylbenzol and monomer styrene units increased by 33.9 percent and 33.1 percent, respectively, during the first nine months of the current Iranian year, compared to the same period last year.

Thus, the company's production is expected to reach 4.15 million tons by the end of the current Iranian year, according to the company's reports.

Moreover, the company's highest production was in recorded three years ago (from March 21 to March 21, 2017) with the amount of slightly over 4 million tons.

The company's sales in the domestic market has also increased. Thus, the domestic sales of ethanol increased by 11 percent, monomer styrene - 6.8 percent, butane - 64 percent, toluene benzene - 14 percent.

In total, the companies sales increased by 11.5 percent in the domestic market.

Despite US sanctions imposed on Iran, the exports of Pars Petrochemical Company increased by in terms of both weight and value in the reported nine-month period, compared to the same period last year. The exports of one of the goods increased by 2.5 times, the company stressed.

The price of two products of the company decreased in the world market, however, thanks to the exports' increase in terms of weight, the revenues from exporting these two products increased by 6.8 percent.

Pars Petrochemical Company has begun studies to increase the production at ethylbenzol and monomeric styrene units. A contract has been signed with a European company on the matter and the studies are expected to finish by the end of the current Iranian year (by March 21, 2020).

The program aims to increase production by 25 percent at each of the ethylbenzol and monomeric styrene units, the company underlined. Thus, the production capacity of the units will grow from 600,000 tons to 750,000 tons.