Amir Kabir Petrochemical Company has boosted its shares’ profit for the current Iranian year (started March 21) by 20% compared to that of the previous year.
According to NIPNA, the National Petrochemical Company's news agency, shareholders will earn a profit of 1,414 rials (3.36 cents) from the petrochemical company’s each share this year, reaching a total of 5.09 trillion rials ($121 million).
The report added that since the beginning of the fiscal year, AKPC has produced more than 1.33 million tons of products, including 343,000 tons of ethylene as well as linear, heavy and light polyethylene that stood at 224,000 tons, 118,000 tons and 181,000 tons, respectively.
The company’s sales in the roughly three-month period have amounted to 33.3 trillion rials ($793 million), up 27.4% compared with the revenues in the corresponding period of last year.
AKPC, located in Mahshahr Special Petrochemical Economic Zone in the southern Khuzestan Province, exported over 21,000 tons of products in the last fiscal year, showing a 100% growth compared with the previous fiscal, Diyakou Abbasi, the company’s marketing and sales manager, said on Sunday.
Abbasi added that AKPC’s foreign customers increased by 36% in the last fiscal.
Houshang Karimi, a company official, recently announced that AKPC is planning to boost production by constructing a major gas plant to receive more fuel as feedstock.
According to the official, because of not receiving sufficient feedstock, AKPC's volume of production has been 40% less than the nominal capacity in the last few years, because of which the Oil Ministry consented to the project.
"As soon as Maroun natural gas liquids [NGL-2300] project comes on stream, AKPC's olefin production will rise from 530,000 tons to 750,000 tons per annum," Karimi said.
The plan to construct the Maroun NGL Plant, which will be completed in four years, requires an investment of €9 million ($10.5 million).
