Tehran, Iran, Aug 22
By Mehdi Sepahvand –- Trend:
Iran’s Persian Gulf Star Petrochemical Holding has announced by eliminating the production bottlenecks its income increased by $2 billion.
“We increased our output by 4 million tons across the various complexes of the holding, as we removed the bottlenecks, which brought us $2 billion more income,” Persian Gulf Star Holding CEO Adel Salimnejad said, Iran Economist news website reported, Aug 22.
“Last year (Iranian fiscal year which ended March 20), we produced 19.6 million tons of petrochemicals, whereas the volume stood at 17.4 million in 2013. This means an increment of 22 percent.”
Salimnejad noted that, once the holding’s underway projects go on-stream by the spring of 2019, the capacities of the company will increase to 30 million tons per year.
“This capacity, excluding the Bidboland refinery unit and our NGL units, will then increase to 45 million tons by 1402 (Gregorian: 21.03.2023-19.03.2024),” he added.
President Hassan Rouhani had officially inaugurated the first phase of Persian Gulf Star Refinery in the southern province of Hormozgan in late April.
The first phase of the project was intended to produce 12 million liters of Euro-4 gasoline, 4.5 million liters of gas oil, one million liter of kerosene and 1.3 million liters of liquefied petroleum gas (LPG) per day.
Once fully operational, the refinery will add over 36 million liters of Euro-4 and Euro-5 quality gasoline to the country’s gasoline production capacity and increase it to 100 million liters per day.
The refinery is the first of its kind – designed on the gas condensate feedstock basis, with the production capacity of 360,000 barrels per day (bpd).
The facility is fed by gas condensate recovered from the South Pars gas field, which Iran shares with Qatar, in the Persian Gulf.
