TEHRAN (Dispatches) – The CEO of the National Petrochemical Company (NPC) Behzad Mohammadi has said that the presence of smart local private sector companies would be remarkable in the materialization of the third petrochemical leap of the country.
Addressing a ceremony marking the official launch of Phase 2 of Takht Jamshid Petrochemical Plant, Mohammadi said the project was one of the first plants to be launched in the second leap of the industry in Iran which will bring the country’s petrochemical production capacity to 100 mt/y by 2022 from currently 66 mt/y.
Mohammadi, who is also deputy petroleum minister for petrochemical affairs, said the third leap of the industry would come to fruition in a 5-year time span and would bring the country’s petrochemical production capacity to 133 mt/y.
Moreover, Iran’s petrochemical revenues would reach 37 billion dollars per year, according to SHANA.
The official went on to say that 16 catalyst groups had so far been localized in the petrochemical industry, adding the presence of the private sector in the third leap would be 4 times more than the projects of the second leap.
The NPC CEO, pointing out that one of the concerns of the petrochemical industry in the country was the transition from natural gas to methanol as well as acquiring the technical savvy of PVM which had been carried out by the Petrochemical Research and Technology Company (PRTC), stated, "This project will be commissioned by 2021 in West Islamabad with $550 million investment and in three segments of gas into methanol, methanol to propylene and propylene to polypropylene and its derivatives.”
Referring to the $33.5 billion catalyst market worldwide, Mohammadi said, 54% of this market is related to the petrochemical and refining industries, adding that the country’s catalyst market is $400 to $450 billion, of which $250 million is in the petrochemical industry.