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Iranian president inaugurates petrochemical plant

November 27/2020

MOSCOW (MRC) -- Iranian President Hassan Rouhani on Thursday inaugurated Lordegan Petrochemical Company in the southwest of the country, according to XINHUANet.

The plant, which is located in Chaharmahal and Bakhtiari province, has the capacity to produce 677,000 tons of ammonia and 1,075 tons of urea annually.

Rouhani said during the opening ceremony that the products of the facility will be exported and Iran is ready to supply the international market at lower prices, official IRNA news agency reported.

He also welcomed foreign investments in the country's development projects.

According to Tasnim news agency, 800 million U.S. dollars has been invested in the plant so far.

As MRC reported earlier, Iran will launch 42 petrochemical projects by the end of next year.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, excluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, PP random copolymer, propylene, HDPE, ethylene, fertilizers, petrochemistry, Iran, Russia.
Category:General News
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