MOSCOW (MRC) -- Managing director of the National Petrochemical Company (NPC) says the company is planning to build a gas-to-propylene (GTP) plant through joint investment with a European bank, said English.irib.
In an interview with Iranian Oil Ministry's official SHANA news agency on Sunday, Abbas Sha’rimoqaddam noted that the GTP plant will have a total capacity of 120,000 tonnes a year and will be built as joint venture by NPC and the European bank, which he did not name.
The official added that according to current plans, the pilot GTP plant of the Petrochemical Research and Technology Company will soon turn into a bigger plant with annual capacity of 120,000 tonnes.
Noting that necessary permits for the construction of the new GTP plant have been obtained from the Oil Ministry, the official added that necessary funds for the implementation of the project will be provided by NPC in cooperation with a European bank, which will supply foreign exchange needed for this purpose.
Meanwhile, Esmail Qanbari, Managing Director of the Petrochemical Research and Technology Company told SHANA that the total cost of the construction of a GTP plant with the annual capacity of 120,000 tonnes has been estimated at about EUR90 million.
He said "At present, the pilot GTP plant is capable of producing one ton of propylene per day and its product conforms to all international standards."
As MRC informed earlier, Bakhtar Petrochemical Company is in plans to start a new high density polyethylene/linear low density polyethylene (HDPE/LLDPE) swing plant. The company is in plans to begin operations at the new swing plant towards the end of current year. Located at Mahabad city of Iran, the HDPE/LLDPE swing plant has a production capacity of 300,000 mt/year.