Maroon Petchem Company Diversifies Export Markets, Plans $1b Downstream Projects

Maroon Petchem Company Diversifies Export Markets, Plans $1b Downstream Projects
(Friday, May 19, 2023) 16:23

TEHRAN (NIPNA) - Iran's Maroon petrochemical company has diversified its export markets and defined $1 billion worth of projects to complete the value chain and develop downstream industries, its chief executive said on Friday.

Amin Amraei told reporters at the Iran Oil Show that the company's strategy was to update its technical savvy and create added value with the aim of diversifying its export markets.

He said that apart from maintaining and increasing its production and sales capacity, they were focused on developing and completing the value chain of their products.

The official cited as one of the company's achievements the cooperation and signing of a contract with Petrochemical Research and Technology Company to use Iranian technical knowledge in its production complex.

Maroon petrochemical company, located in Mahshahr in southwest Iran, produces olefin, ethylene glycol, polypropylene and high density polyethylene.

The company's CEO also said that with the support of National Petrochemical Company, shareholders and board of directors, they had defined some projects worth $1 billion to complete the value chain and develop downstream industries.

Amraei said that on the sidelines of the exhibition, they signed a memorandum of understanding for the implementation of a project to produce acrylonitrile (ACN), a chemical used in various industries, with the participation of TAPPICO and Maroon companies.

The 27th international oil, gas and petrochemical exhibition, which runs until Saturday, is being held under the slogan "Oil Industry, Technology Production and Optimal Consumption".

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