Iran's Persian Gulf Petrochemical Industries Company (PGPIC) has raised its annual revenues by at least $2bn by efficiently applying debottlenecking procedures in its facilities since 2013, according to its managing director.
Adel Nejad Salim, managing director, PGPIC, said that the process had improved the value of the products supplied by its subsidiaries.
The holding company produced 19.6 million metric tons of petrochemicals in the previous Iranian calendar year that ended on 20 March 2017 up by at least four million metric tons per year (mt/y) from 2013, the year Hassan Rouhani took office as Iranian President.
“The increase has added a total of $2bn to the company's annual revenues,” Nejad Salim revealed.
Nejad Salim added that PGPIC subsidiaries yield an average of 87% of their nameplate capacity as debottlenecking measures had taken place in these units over the course of the past four years in order to improve efficiency.
Nejad Salim further predicted that PGPIC output would reach 30mt/y by the end of the next calendar year ending in March 2019.
“Moreover, production of the holding company is planned to cross 45mt/y by 2023,” Nejad Salim disclosed.