TEHRAN, March 9 (Xinhua) -- Iranian Gulf Petrochemical Industries Company is considering approaches to develop the country's petrochemical sector, said the managing director of the company.
Three major petrochemical projects by the company would be operational in the next few months, Jafar Rabiei was quoted as saying by Eghtesad Online news website on Saturday.
"Bid Boland Gas Refinery in Khuzestan Province, urea and ammonia units of Lordegan Petrochemical Complex in Chaharmahal and Bakhtiari Province, and two olefin plants at Ilam Petrochemical Complex, costing over 4 billion U.S. dollars, will be launched," Rabiei said.
Besides, Gachsaran Petrochemical Company in Kohgiluyeh and Boyer-Ahmad Province is another such venture expected to be commissioned by 2020, he said.
Over the past years, the Iranian petrochemical industry focused on the upstream sector, but the policy now is to develop downstream projects, Rabiei added.
Rabiei referred to ethylene and urea as the products that have a bigger profit margin, saying that "it will help create more value added in the petrochemical industry."
He pointed to another petrochemical project in the southwestern city of Andimeshk as the profitable downstream complex, saying the plant is planned to annually produce 300,000 tons of ethylene oxide, glycol ether and ethanolamine to be used as feedstock for hygiene items, detergents, and additives in textile, cement, gas sweetening, refining and petrochemical industries.
According to the report, thanks to the completion of phases of South Pars Gas Field in the Gulf, there has been an abundance of ethane and ethylene supply in Iran over the past six years.
