Karoun Petrochemical Company (KRNPC) in Mahshahr Special Petrochemical Economic Zone in Khuzestan Province has produced a modified version of methylenediphenyl diisocyanate.
The product, dubbed 'LMDI B', has what it takes to compete with several prominent international brands such the Isonate 143L manufactured by the US's Dow Chemical Company and Lupranat MM103 by Germany's BASF, the news portal of the National Petrochemical Company of Iran reported.
Prior to the breakthrough, the 2,4’-diphenylmethane diisocyanate (aka LMDI) was imported. Not only will the new product help domestic polyurethane producers procure their raw material easily, it will also help save the petrochemical industry and the economy in general millions of dollars every year.
KRNPC is one of the leading petrochemical companies in the Middle East. The company is operating its second phase, which at full capacity will save about $300 million annually for the country by reducing reliance on the import of isocyanates, a raw material used in the production of plastic and as a binder in adhesives, paints and varnishes.
LMDI is an isocyanate chemical used in the production of polyurethanes. MDI is used primarily in the production of rigid polyurethane foams used for the insulation of refrigerators and production of glues, elastomers and sealants.
Iran holds some of the world's largest crude oil and natural gas reserves, but its petrochemical industry is comparatively underdeveloped. Petrochemical is Iran's most important industry after oil and gas. The country is expected to earn $14 billion in revenues from petrochemical exports in the current fiscal.
NPC hopes to lift nominal output capacity to 120 million tons per annum by 2022, the end of Iran's Sixth Five-Year Economic Development Plan.
