Tabriz Petrochemical Company's output shot up by 7,000 tons between March 21 and June 21compared to last year's corresponding period when production reached 217,000 tons.
Siavash Derafshi, the company's chief executive officer, made the statement on the sidelines of the 30th petrochemical managing directors' meeting in Tabriz on Saturday, NIPNA, the National Petrochemical Company's news agency reported.
According to the official, the complex generated close to $53 million from exports in the period. The company's domestic sales, worth $7 million, stood at 31,000 tons or 31% higher compared to last year.
Located in East Azarbaijan Province in northwest Iran, TPC's products include raw polymers, polyethylene, polystyrene and various grades of a thermoplastic polymer known as acrylonitrile butadiene styrene.
"Close to 870,000 tons of polymer and non-polymers were manufactured in 2016-17," Derafshi said, adding that the firm exported $419 million worth of products in the period, of which $21 million was sold to domestic companies.
The official said more than $1.1 billion has been invested in the plant since 1988. The plant is built on 391 hectares of which 100 hectares are exclusive to green spaces that make it different from other complexes which normally lack enough green areas.
Highlighting TPC's measures to curb energy consumption, he said installation of new filtering systems as well as comprehensive overhaul of the processing units helped the company save as much as 20 million cubic meters of natural gas as feedstock last year.
According to Derafshi, overhaul operations undertaken by local experts cost the company $5.8 million.
"TPC's products are exported to 33 states in Asia and Europe," he said, adding 40% of the plant's output is sold to domestic companies.
Reportedly, a hitherto unnamed subsidiary of multinational conglomerate Honeywell has reached an agreement to help upgrade TPC’s monitoring and control technology.
Derafshi said the collaboration is aimed at replacing TPC’s outdated emergency shutdown systems with new technology.
Most of Iran’s petrochemical facilities are concentrated in the port cities of Asalouyeh and Mahshahr off the Persian Gulf coast.
Sharing Expertise
According to NPC Managing Director Reza Norouz-Zadeh, sharing knowledge and technical expertise among petrochem plants should be a priority.
"Increasing production and exports are the common goal of all petrochemical complexes and sharing knowledge can help fulfill the objective in a shorter period," he said.
Emphasizing on setting up R&D facilities, he said NPC expects petrochemical manufacturers to forge closer cooperation with academia and undertake studies related to cost-effective methods and cutting-edge catalysts.
"NPC a matter of policy has functioned as a facilitator to help investors implement development plans without facing legal obstacles."
He said introducing Iran’s petrochemical industry's potential for growth, exploring means of expanding mid- and down-stream sectors via joint ventures and attracting international finance should top NPC's agenda to help reach annual output capacity of 120 million tons by 2020.
Energy experts including Norouz-Zadeh believe that Iran's strategic location in the region, large hydrocarbon reserves, skilled human resources and access to raw material as well as proximity to international waterways are among key factors that can attract both domestic and foreign investors.
