Construction of five petrochemical complexes in Qeshm Island off the Persian Gulf will commence soon.
"The ventures, worth $4.2 billion, are aimed at producing more value-added products like propylene, polypropylene and olefins from methanol," NIPNA, the National Petrochemical Company's news portal, quoted NPC chief Reza Norouz-Zadeh as saying Tuesday.
Permits have been issued and upon completion the plants will have an output capacity from 1 million to 2.7 million tons per annum.
Giving a breakdown, he said the first plan is a gas to polypropylene project (GTTP) that will be completed by Petro Mofid Development Company. The complex is projected to produce 1.6 million tons of methanol, 465,000 tons of propylene as well as 450,000 tons of polypropylene besides other byproducts, namely methanol, ethylene and liquefied gas.
Referring to the second scheme, he noted that the gas to light olefins and downstream (GTX) venture will be developed by Kaveh Methane Qeshm Company and it is projected to have a capacity of 100,000 tons of formaldehyde, 107,000 tons of pyrolysis gasoline plus propylene and polypropylene.
Norouz-Zadeh noted that other GTTP and GTX projects that will be implemented in Qeshm International Petrochemical Industries Co. and Qeshm Petrochemical, Gas and Oil Co. will produce other key commodities such as citric acid and paraformaldehyde.
"The last plan will be implemented in Qeshm Maham Petrochemical Company," he said, adding that converting natural gas to methanol is the main purpose of the project that will help complete the value-added chain of the company as methanol is used for feedstock to produce not only olefins but also aromatics.
As per an Oil Ministry directive, 25 million cubic meters of natural gas per day as feedstock will be supplied to Qeshm petrochem complexes as feedstock.
Iran's annual petrochemical output is 62 million tons and is expected to reach 72 million tons by the end of the current fiscal in March 2019 upon the launch of new petrochemical ventures.
Qeshm Gas Condensate Refinery, with a processing capacity of 120,000 barrels per day, will become operational by next January.
The refinery's output will include liquefied petroleum gas, kerosene, diesel, jet fuel and naphtha. The venture is aimed at capitalizing on cheap gas prices for creating jobs in the southern regions.
