15 Petchem Projects Online in 5 Years
Until eight years ago, everyone was worried about incomplete petrochemical projects. But today, the same projects are offering a variety of petrochemicals, which largely contribute to the Iranian economy. The accelerated development of petrochemical projects under the 11th and the 12th administrations resulted in the development of a large number of products. Iran raised its annual petrochemical production capacity to 54 million tonnes last March, while the number of petrochemicals manufactured in Iran has reached 123. More importantly, over the past five years, a total of 15 petrochemical projects came on-stream, which we briefly review here.
Ilam Petrochemical Plant
Phase I of Ilam Petrochemical Plant was inaugurated in 2014 during a provincial tour by President Hassan Rouhani. The project came online with a capacity of 300,000 tonnes. The investment made in the project stood at $442 million with its output valued at $388 million. The Ilam plant remains a major industrial project in Iran, equipped with ethylene, high-density polyethylene, feedstock desulfurization and all utilities units. Creation of job in the province, optimal use of refined gas products and their conversion to petrochemicals of high value-added have been among objectives of implementation of this project.
Lorestan Petrochemical Plant
Lorestan Petrochemical Plant was inaugurated by Iran's first vice-president in April 2016 with an annual production capacity of 330,000 tonnes of low-density linear polyethylene (LDLP) and high-density linear polyethylene (HDLP).
Located on a 130-ha land, the Lorestan plant is fed by 234,000 tonnes a year of feedstock supplied by the West Ethylene Pipeline. This project was inaugurated with an initial capital of $300 million with the value of its products standing at $329 million.