BAKU, Azerbaijan, Nov. 13
By Elnur Baghishov - Trend:
Iran’s Tamin Petroleum and Petrochemical Investment Company (TAPPICO) has received a license for construction of a mini gas to polypropylene (GTPP) plant, Mahmoud Mahdoumi, the company’s managing director, said on the sidelines of the 31st meeting of directors of the petrochemical companies in Mashhad city of Iran’s Razavi Khorasan province, Trend reports citing NIPNA.
Mahdoumi noted that the facility will be built as part of the second phase of development of the Khorasan Petrochemical Company’s plant, adding that the plant will produce 120,000 tons of petrochemicals.
“According to preliminary estimates, investments worth about $500 million are required for this project,” the managing director said.
Petrofarhang Holding Company will own 20 percent and TAPPICO company will own 60 percent in the plant, while it was decided that 20 percent share will be provided by Iran’s National Petrochemical Company, Mahdoumi added.
The managing director noted that the study is underway to build the new plant and that the exact program will be set up after completion of the study.
Khorasan Petrochemical Company, located in Iran’s North Khorasan province, produces urea, melamine, ammonia, nitrogen and other products.
