TEHRAN -- The CEO of the National Petrochemical Company (NPC) Behzad Muhammadi said on Saturday that the GTPP unit of West Islamabad project would come online by 2024 as the first development project of the National Petrochemical Company after privatization.
According to the National Petrochemical Company, Behzad Muhammadi said on Saturday: “This project is the first national project in the petrochemical industry whose chain develops from natural gas to propylene and polypropylene.”
“GTPP project is defined in three stages; first we will move from natural gas to methanol and from this route to propylene and finally to polypropylene production,” he explained.
During a visit to the facility, he said that the Islamabad-e-Gharb project is the first project that is being developed after privatization of the petrochemical industry by the National Petrochemical Compan. The NPC CEO said the plant is financed by $545 million, and adding: “The technical knowhow of this project has been developed for many years with the efforts of Iranian researchers in the Petrochemical Research and Technology Company (PRTC) and it is predicted that its operational process will accelerate and become productive by 2024.”
Muhammadi reminded: “One of the factors that has caused the country’s petrochemical industry to be unsuccessful in developing propylene production plans is the lack of technical savvy for production of this strategic item which need a million tons per year.”
The CEO of the National Petrochemical Company stated: “Currently, licenses have been issued for construction of some GTPP or GTP projects that produce not only propylene but also propylene derivatives. We hope to be able to supply 4 million tons of propylene by 2025 by developing these projects.”