BAKU, Azerbaijan, October 30. The olefin production plant of Iran's Kangan Petrochemical Development Company will be put into operation by the end of the current Iranian year (from March 20, 2024, through March 20, 2025), the executive director of Iranian Ahdaf Investment Company Zabihullah Naimi told local media, Trend reports.
According to him, the annual production potential of the olefin plant will be 1 million tons of ethylene.
Naimi added that the launch of this plant will lead to an increase in the country's petrochemical production. Thus, three polymer units will operate in connection with the plant, each with a potential of more than 300,000 tons.
To note, Iran's petrochemical production potential currently stands at 96 million tons and will increase to 132 million tons in 2028. The value of Iran's petrochemical production in the last Iranian year (from March 21, 2023, through March 19, 2024) was $23 billion, and it exported $13 billion worth of petrochemical products.