Addressing a virtual ceremony to inauguration
Lordegan Petrochemical Plant in the presence of Iranian President Hassan
Rouhani and Minister of Petroleum Bijan Zangeneh on Thursday, Jafar Rabiee said
PGPIC, as the largest capital market company in the country, enjoys a roughly 40%
share in Iran’s output and exports, adding: “The holding has defined 25 major
petrochemical projects to ensure the future of the industry and materialize the
second and third leaps of the sector with almost €14m of investment.
He said the country's petrochemical industry was proud
to develop and export tens of millions of tons of petrochemical products under the
difficult conditions created by the coronavirus pandemic as well as the US sanctions.
“This industry has not ceased to develop under
the current difficult conditions and today we are witnessing the operation of a
large unit in Chaharmahal and Bakhtiari Province,” the official said.
The CEO of Persian Gulf Holding, stating that
this year the company plans to launch four projects in the second leap of the
petrochemical industry and Lordegan Petrochemical Plant is its first,
continued: “Lordegan is a large urea and ammonia production unit with a
production capacity of about 1.8 million tons, which can supply about 1.075
thousand tons of urea and 80,000 tons of surplus ammonia.”
According to Rabiee, after covering domestic
demand, 80% of Lordegan Petrochemical Plant’s products will be exported, part
of which is through swaps with Pardis Petrochemical Plant in Assaluyeh, which
will facilitate the transportation of urea in the country.
The plant has been built with the aim of producing 1.075 million tons
of urea and 677,000 tons of ammonia per year, of which about 600,000 tons is
used to produce urea in the complex.
The facility is fed by natural gas from the national gas distribution
network. It consumes 320 million cubic meters of natural gas as fuel and 429
million cubic meters of natural gas as feedstock annually.
Most of the products of this complex will be for export and its first
chemical shipment will be exported next month.
Lordegan Petrochemical Plant was built with an investment of 754
million Euros and 11,230 billion Rials, and it would generate an annual revenue
of roughly 240 million dollars. The plant is planned to reach full production
tilt by the end of the current Iranian calendar year to March 20, 2021.
The commissioning of the plant was carried out completely by relying
on domestic forces despite the US sanctions on the country.
Due to the 500 million euro financing of the unit by China, it was
necessary for the company to purchase part of the equipment from this country,
but despite this, most of the equipment was supplied from domestic
manufacturers and over 60% of the equipment used in the plant was provided by
Construction of the unit generated 2,800 direct and 450 indirect jobs
in the western province of Chaharmahal and Bakhtiari. When fully operational,
it will create 700 direct and 1,500 indirect jobs.
Lordegan Petrochemical Company was built on a 100-hectare land in the
Felard County of Lordegan City in the Chaharmahal and Bakhtiari province, and
Iranian Investment Petrochemical Group (Petrol) is the main stockholder of the