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New Plant in Hormozgan to Convert Natural Gas to Chemical Products

New Plant in Hormozgan to Convert Natural Gas to Chemical Products
New Plant in Hormozgan to Convert Natural Gas to Chemical Products

The construction of Mahtab Parsian Petrochemical Company, a subsidiary of Petrofarhang Company, has started in Bandar Abbas, Hormozgan Province.
The project includes the construction of a gas to fuel and chemical production units – also known as GTX – on 130 hectares, the Oil Ministry’s news agency Shana reported.
An undertaking of the private sector, the project is aimed at producing methanol and olefin, which will be converted to propylene, high-density polyethylene, C3+ and C4+ by using natural gas. The products will be exported to Europe and Asia.
Iran has the world’s largest reserves of natural gas and the fourth largest oil reserves in the world. Based on this vital advantage and also Iran’s strategic situation in the global market, Petrofarhang, a subsidiary of Teachers Investment Fund, has been investing in gas, oil and petrochemical industries in recent years to help the country develop in the fields.
There are also several other GTX units under construction in different parts of the country. 
Tehran is making efforts to increase annual petrochemical production capacity, which stands at about 90 million tons now.
About half of the products, including ethylene and propylene, is used as feedstock in domestic petrochemical complexes to produce plastics, detergents, solvents, paints, fertilizers, pesticides, synthetic fibers and rubber. The rest is sold in international markets.
Petrochemicals constitute more than one-fourth of Iran’s non-oil exports dispatched to 30 countries, namely neighboring states, China, India, Southeast Asia and Europe.
 

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