Petrochem Exports to Expand

Petrochem Exports to Expand
Petrochem Exports to Expand

Iran plans to expand petrochemical exports to Turkey, Russia, Central Asia, and the Caucasus, said an official in the petrochemical industry.

More than 35,000 tons of petrochemical were exported to Turkey since the beginning of the current year (March 21), Mohsen Farahi was quoted by Mehr news agency as saying. A total of 10,000 tons of polymer products were also exported to Central Asian countries and Russia during the said period. Total petrochemical exports stand at 330,000 tons.

Despite the sanctions, 1.9 million tons of polymers were exported to global markets from Jam Petrochemical Complex last year, said the company’s chief commercial officer, adding that most of the polymers are currently exported to China. “Polymer exports from the Jam complex to China account for 37 percent of total polymer exports from Iran, and eight percent of China’s polymer market.”

  Mokran Petrochem Hub Funded by Private Sector

Construction of the Mokran petrochemical project is underway in the port city of Chabahar in Sistan and Baluchestan Province. Touted as Iran’s first major petrochemical hub, the project is funded by private investors. Given the strategic location of Chabahar, the hub is expected to produce $14 billion worth of products upon the completion of its three development phases. It will be built in 9 years with an estimated $12 billion investment. Investors include 9 fully privately-owned companies, two banks and three national pension funds, the Persian daily ‘Donya-e Eghtesad’ reported.

According to plans, the first development phase will be completed in 38 months. Close to $2.8 billion is to be invested in the second, and $3.4 billion in the third phase of the project. Value of products will equal $5.6 billion in the first, $6 billion in the second, and $2.4 billion in the third phase of the Mokran project, reaching a total of $14 billion worth of products. Export capacity is projected to reach 22 million tons of liquid and solid products.

Mokran’s export is to reach 2.5 million tons of solid, and 6 million tons of liquid petrochemicals by the end of its first development phase. Additionally, 2.5 million tons of solids and 7 million tons of liquids are to be exported in the second phase. Import and export capacity of Shahid Beheshti and Shahid Kalantari ports in Chabahar is at 2 million tons.

Seventeen petrochemical units are to be established in the Mokran project, including methanol, methanol-to-ammonia, urea-to-ammonia and olefin production units. A methanol-to-propylene (MTP) unit is planned to be built with 450,000 ton capacity.