The second phase of Damavand Petrochemical Plant and the first phase of Bushehr Petrochemical Complex will come on stream by July in Pars Special Economic Energy Zone in Asalouyeh, Bushehr Province, director for projects at the National Petrochemical Company said Sunday.
Ali Mohammad Bosaqzadeh said some units in the plants have started pilot production and hoped they would come on stream by summer, NIPNA, the official news agency of National Petrochemical Company, quoted the official as saying Monday.
Bushehr Petrochem Plant will produce a variety of commodities namely ethane, ethylene, methanol, sulfur and acetic, he noted.
The complex is equipped with ethane recovery and sweetening units.
Referring to Damavand Petrochemical Plant under development in the southern port city of Asalouyeh, he said in 2017 the NPC under the auspices of the Iranian Privatization Organization, sold 80% shares to the Persian Gulf Holding Company and Parsian Oil and Gas Company.
"The deal helped expedite the plant's development and now it is one of the largest complexes in Asalouyeh, providing other plants with raw materials.”
Given the final phases of the construction of the plants that is slated to complete the national petrochemical value-chain, it is forecast that by the end of current fiscal in March 2020 annual petrochemical output will exceed 60 million tons.
Petrochemicals are important for an array of industries and 95% of all manufactured goods such as electronics, furniture, appliances, textiles and many more are petrochemical-based, making it a key economic driver.
Annual production capacity of petrochemicals in 1979 was roughly 3 million tons. Now it is 54 million tons.
Citing Global Data’s latest report, H2 2018 Global Petrochemical Capacity and Capital Expenditure Outlook, energy experts say Asia, the Middle East and North America are expected to be the top regions contributing to global petrochemical capacity additions in the next nine years, which potentially will increase from 1,550.5 million tons per annum in 2018 to 2,031.6 million tons in 2026.
