Amir Kabir Petrochem Company’s Profit Hits Tenfold Increase

Amir Kabir Petrochemical Plant in Mahshahr, Khuzestan Province, registered a 10-fold profit increase in the last Iranian year (March 2020-21) compared to the year before, managing director of the company said.
“The company's net profit reached $160 million last year,” the Oil Ministry’s news agency Shana quoted Abdolkarim Pahlevani as saying.
Referring to the decline in liquid feedstock of the plant by 9% and an eightfold rise in ethane gas feed last year, the company’s chief said receiving less liquid feed and more gas was more profitable for the company.
“Last year, 751,000 tons of liquid feed and 133,000 tons of ethane were injected into the plant,” he said.
“The company produced over 1.2 million tons of polymer products last fiscal year, which indicated an increase of 21% compared to the previous year.”
The rise in output led to a growth in exports and profits, despite the US sanctions.
In May 2018, the former US president, Donald Trump, tore up the landmark 2015 nuclear deal Iran had signed with the six world powers and in November, Washington imposed a second round of sanctions, targeting the energy sector.
Amir Kabir is Iran's largest manufacturer of petrochemicals and polymers, producing a variety of polymers, including high-density polyethylene, low-density polyethylene and linear low-density polyethylene.
Its products are used to make pipes, cables, plastic bags, barrels for chemicals and food, synthetic rubber and resistant polymers.